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Coinbase and Circle shares fall amid Coinbase's possible move to a new stablecoin platform backed by Stripe, Visa, and Mastercard.

Market News
03 Jun 2026
Crypto news
View Source
Bearish
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Shares of Coinbase and Circle dropped after reports that Coinbase is considering joining a new stablecoin platform supported by Stripe, Visa, and Mastercard. This potential move raises questions about Coinbase's existing revenue-sharing deal with Circle, which is up for renewal in August. The news comes amid weak Bitcoin prices and bearish retail sentiment, adding pressure on crypto-linked stocks. The new platform could increase competition in stablecoin payments and impact Circle's USDC business, while Coinbase's stablecoin strategy and contract negotiations remain in focus.

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