Crypto
Circle Stock Stuck in Fed Hike Limbo Amid Reserve Income Hopes
The CRCL stock outlook is uncertain as investors weigh the potential upside from higher reserve income against the risk of a Fed rate hike.
Circle's shares closed at $90.60 on Friday, up 0.31% during the session but down 11.22% for the week.
The Federal Reserve is set to announce its decision on interest rates after its September 15-16 meeting, with CME FedWatch placing odds of a quarter-point hike at around 87%.
Circle reported $668 million in second-quarter reserve income, which rose 5.3% year-over-year due to increased USDC circulation.