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Most crypto-related stocks now have their own unique business models that respond to different drivers.The following is excerpted from The Block’s Data and Insights newsletter.

“cirBTC is designed to provide institutions with a highly secure and neutral version of wrapped BTC,” Circle said on its website.The token will be backed 1:1 by bitcoin and first issued on the Ethereum mainnet and Arc Layer 1, which is incubated by Circle.

Trump just stacked his science council and crypto has a seat at the table, while Circle's worst day is looking more like an overreaction.

The traditional banking lobby has successfully "strong-armed" lawmakers into banning passive interest for crypto users.

Bitwise CIO Matt Hougan called Circle’s post-regulatory selloff “excessive,” projecting the stablecoin issuer could be worth $75 billion by 2030.Hougan cited Citigroup’s revised forecast that the global stablecoin market could reach $1.9 trillion by 2030, arguing the fundamental growth thesis remains intact.William Blair analysts added that Circle’s cross-border B2B payments utility is undiminished, even as regulatory uncertainty persists around profit-sharing rules.

Stablecoin legislation appears to be heading towards the formation of a system that would restrict rewards, which would reduce “the attractiveness” of people holding Circle’s USDC.Circle’s biggest rival Tether said Tuesday it’s moving forward with its first full financial audit and has hired a Big Four accounting firm.Online sleuth ZachXBT said Circle froze the USDC balance of 16 hot wallets for various businesses.

Circle (CRCL) stock plunged 20% on Tuesday as stablecoin rival Tether made a long-awaited move and Clarity Act speculation grew.