Chatbots Would Rather You Skip USDC, Mizuho Finds, Cutting Circle Target to $43

Mizuho thinks AI assistants that shop around for yield on behalf of their users could become a real drag on Circle’s business. Mizuho Securities on Monday trimmed its Circle Internet Group (CRCL) price target by $2, to $43 , while reiterating an Underperform rating. In the note, the bank estimated that AI personal-assistant tools pulling holders out of USDC and into better-paying products could cut Circle’s reserve revenue by 10% to 20% over the medium term and erase $4 billion to $9 billion of USDC’s market value. “We believe AI personal assistant engines pose a marked risk to Circle’s medium-term revenue,” Mizuho analysts wrote . Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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