{
    "id": 65611,
    "date": "2026-03-26T10:00:27",
    "date_gmt": "2026-03-26T03:00:27",
    "guid": {
        "rendered": "https:\/\/hbbgroup.net\/circle-selloff-looks-overdone-analysts-say-as-shares-rise-after-cathie-wood-buys-the-dip\/"
    },
    "modified": "2026-03-26T11:37:56",
    "modified_gmt": "2026-03-26T04:37:56",
    "slug": "circle-selloff-looks-overdone-analysts-say-as-shares-rise-after-cathie-wood-buys-the-dip",
    "status": "publish",
    "type": "post",
    "link": "https:\/\/hbbgroup.net\/en_us\/circle-selloff-looks-overdone-analysts-say-as-shares-rise-after-cathie-wood-buys-the-dip\/",
    "title": {
        "rendered": "\u0110\u1ee3t b\u00e1n th\u00e1o c\u1ed5 phi\u1ebfu Circle \u201cc\u00f3 v\u1ebb \u0111\u00e3 \u0111i qu\u00e1 \u0111\u00e0\u201d, c\u00e1c nh\u00e0 ph\u00e2n t\u00edch nh\u1eadn \u0111\u1ecbnh, khi gi\u00e1 c\u1ed5 phi\u1ebfu ph\u1ee5c h\u1ed3i sau \u0111\u1ed9ng th\u00e1i Cathie Wood b\u1eaft \u0111\u00e1y."
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        "rendered": "<p><strong>T\u00f3m t\u1eaft nhanh<\/strong><\/p>\n<ul>\n<li>C\u1ed5 phi\u1ebfu Circle thu h\u1eb9p \u0111\u00e0 gi\u1ea3m sau khi Cathie Wood c\u1ee7a Ark Invest b\u1eaft \u0111\u00e1y v\u00e0o th\u1ee9 Ba.<\/li>\n<li>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1ea1i Clear Street d\u1ef1 b\u00e1o vi\u1ec7c ng\u0103n c\u00e1c b\u00ean trung gian stablecoin cung c\u1ea5p ph\u1ea7n th\u01b0\u1edfng gi\u1ed1ng ti\u1ec1n g\u1eedi s\u1ebd kh\u00f4ng l\u00e0m ch\u1eadm \u0111\u00e0 ch\u1ea5p nh\u1eadn USDC.<\/li>\n<li>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a Bernstein cho r\u1eb1ng l\u1ec7nh c\u1ea5m l\u1ee3i su\u1ea5t s\u1ebd kh\u00f4ng \u0111e d\u1ecda m\u00f4 h\u00ecnh doanh thu c\u1ee7a Circle, v\u1ed1n d\u1ef1a tr\u00ean vi\u1ec7c \u0111\u1ea7u t\u01b0 d\u1ef1 tr\u1eef USDC v\u00e0o tr\u00e1i phi\u1ebfu Kho b\u1ea1c M\u1ef9.<\/li>\n<\/ul>\n<p>C\u1ed5 phi\u1ebfu Circle \u0111\u00e3 thu h\u1eb9p m\u1ee9c gi\u1ea3m v\u00e0o th\u1ee9 T\u01b0 sau khi c\u00e1c di\u1ec5n bi\u1ebfn li\u00ean quan \u0111\u1ebfn stablecoin t\u1ea1i Capitol Hill khi\u1ebfn m\u00e3 n\u00e0y lao d\u1ed1c trong ng\u00e0y h\u00f4m tr\u01b0\u1edbc, c\u00f9ng l\u00fac v\u1edbi th\u00f4ng b\u00e1o ki\u1ec3m to\u00e1n t\u1eeb \u0111\u1ed1i th\u1ee7 Tether.<\/p>\n<p>C\u1ed5 phi\u1ebfu c\u1ee7a nh\u00e0 ph\u00e1t h\u00e0nh stablecoin c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i New York n\u00e0y \u0111\u01b0\u1ee3c giao d\u1ecbch quanh m\u1ee9c 102,50 USD, qua \u0111\u00f3 thu h\u1eb9p m\u1ee9c gi\u1ea3m 22% trong tu\u1ea7n, theo Yahoo Finance. Kh\u00f4ng l\u00e2u sau ti\u1ebfng chu\u00f4ng m\u1edf c\u1eeda phi\u00ean th\u1ee9 T\u01b0, gi\u00e1 c\u1ed5 phi\u1ebfu Circle \u0111\u00e3 b\u1eadt l\u00ean 110 USD tr\u01b0\u1edbc khi h\u1ea1 nhi\u1ec7t tr\u1edf l\u1ea1i.<\/p>\n<p>C\u00fa lao d\u1ed1c h\u00f4m th\u1ee9 Ba x\u1ea3y ra trong b\u1ed1i c\u1ea3nh c\u00e1c nh\u00f3m v\u1eadn \u0111\u1ed9ng h\u00e0nh lang crypto \u0111ang c\u00e2n nh\u1eafc nh\u1eefng thay \u0111\u1ed5i trong d\u1ef1 lu\u1eadt c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng, ph\u1ea3n \u00e1nh m\u1ed9t th\u1ecfa hi\u1ec7p v\u1edbi ng\u00e0nh ng\u00e2n h\u00e0ng v\u1ec1 v\u1ea5n \u0111\u1ec1 l\u1ee3i su\u1ea5t stablecoin. Theo v\u0103n b\u1ea3n m\u1edbi nh\u1ea5t c\u1ee7a \u0110\u1ea1o lu\u1eadt Clarity, c\u00e1c c\u00f4ng ty nh\u01b0 Coinbase s\u1ebd b\u1ecb c\u1ea5m cung c\u1ea5p c\u00e1c ph\u1ea7n th\u01b0\u1edfng mang t\u00ednh ch\u1ea5t gi\u1ed1ng ti\u1ec1n g\u1eedi cho ng\u01b0\u1eddi n\u1eafm gi\u1eef USDC \u2014 \u0111i\u1ec1u v\u1ed1n \u0111\u00e3 l\u00e0m d\u1ea5y l\u00ean lo ng\u1ea1i v\u1ec1 d\u00f2ng v\u1ed1n r\u00fat ra trong c\u1ed9ng \u0111\u1ed3ng c\u00e1c t\u1ed5 ch\u1ee9c ng\u00e2n h\u00e0ng \u0111\u1ecba ph\u01b0\u01a1ng.<\/p>\n<p>Trong khi \u0111\u00f3, \u0111\u1ed1i th\u1ee7 l\u1edbn nh\u1ea5t c\u1ee7a Circle cho bi\u1ebft h\u1ecd \u0111ang l\u00e0m vi\u1ec7c v\u1edbi m\u1ed9t c\u00f4ng ty ki\u1ec3m to\u00e1n thu\u1ed9c nh\u00f3m Big Four nh\u01b0ng ch\u01b0a n\u00eau t\u00ean \u0111\u1ec3 ti\u1ebfn h\u00e0nh m\u1ed9t cu\u1ed9c ki\u1ec3m to\u00e1n to\u00e0n di\u1ec7n. Theo c\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1ea1i Clear Street, th\u00f4ng b\u00e1o t\u1eeb Tether \u0111\u00e3 l\u00e0m d\u1ea5y l\u00ean suy \u0111o\u00e1n r\u1eb1ng c\u00f4ng ty n\u00e0y c\u00f3 th\u1ec3 \u0111ang chu\u1ea9n b\u1ecb m\u1edf r\u1ed9ng sang th\u1ecb tr\u01b0\u1eddng M\u1ef9 cho stablecoin USDT \u2014 \u0111\u1ed3ng stablecoin \u0111ang d\u1eabn \u0111\u1ea7u th\u1ecb tr\u01b0\u1eddng \u2014 qua \u0111\u00f3 c\u00f3 th\u1ec3 g\u00e2y \u00e1p l\u1ef1c l\u00ean ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a Circle.<\/p>\n<p>Nh\u00f3m ph\u00e2n t\u00edch do Owen Lau d\u1eabn d\u1eaft vi\u1ebft trong m\u1ed9t b\u00e1o c\u00e1o h\u00f4m th\u1ee9 T\u01b0 r\u1eb1ng: \u201cTheo quan \u0111i\u1ec3m c\u1ee7a ch\u00fang t\u00f4i, ph\u1ea3n \u1ee9ng gi\u1ea3m gi\u00e1 n\u00e0y l\u00e0 th\u00e1i qu\u00e1.\u201d H\u1ecd n\u00f3i th\u00eam, \u00e1m ch\u1ec9 c\u00fa gi\u1ea3m sau \u0111\u00f3 c\u1ee7a Circle: \u201cK\u1ef3 v\u1ecdng v\u1ec1 kh\u1ea3 n\u0103ng ki\u1ebfm ti\u1ec1n trong ng\u1eafn h\u1ea1n c\u00f3 th\u1ec3 c\u1ea7n \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh l\u1ea1i, nh\u01b0ng lu\u1eadn \u0111i\u1ec3m chi\u1ebfn l\u01b0\u1ee3c v\u1ec1 nhu c\u1ea7u \u0111\u1ed1i v\u1edbi USDC v\u1eabn c\u00f2n nguy\u00ean v\u1eb9n.\u201d<\/p>\n<p>C\u00f3 v\u1ebb nh\u01b0 Cathie Wood c\u1ee7a Ark Invest c\u0169ng \u0111i \u0111\u1ebfn k\u1ebft lu\u1eadn t\u01b0\u01a1ng t\u1ef1. Theo Ark Invest Tracker, th\u00f4ng qua m\u1ed9t s\u1ed1 qu\u1ef9 ETF kh\u00e1c nhau, c\u00f4ng ty qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n n\u00e0y \u0111\u00e3 mua v\u00e0o 161.000 c\u1ed5 phi\u1ebfu Circle trong ng\u00e0y th\u1ee9 Ba. Gi\u00e1 tr\u1ecb ph\u00e2n b\u1ed5 cho th\u01b0\u01a1ng v\u1ee5 n\u00e0y v\u00e0o th\u1ee9 T\u01b0 \u0111\u1ea1t kho\u1ea3ng 16,5 tri\u1ec7u USD.<\/p>\n<p>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a Clear Street ti\u1ebfp t\u1ee5c duy tr\u00ec m\u1ee9c gi\u00e1 m\u1ee5c ti\u00eau 152 USD v\u00e0 khuy\u1ebfn ngh\u1ecb \u201cMua\u201d \u0111\u1ed1i v\u1edbi Circle, cho r\u1eb1ng c\u00e1c \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng c\u1ee7a c\u00f4ng ty v\u1eabn ch\u01b0a b\u1ecb \u1ea3nh h\u01b0\u1edfng. Theo h\u1ecd, c\u00e1c \u0111\u1ed9ng l\u1ef1c \u0111\u00f3 bao g\u1ed3m token h\u00f3a, thanh to\u00e1n AI-native, prediction markets v\u00e0 qu\u00e1 tr\u00ecnh ch\u1ea5p nh\u1eadn ng\u00e0y c\u00e0ng t\u0103ng c\u1ee7a c\u00e1c h\u1ec7 th\u1ed1ng thanh to\u00e1n \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd \u1edf c\u1ea5p t\u1ed5 ch\u1ee9c.<\/p>\n<p>Nh\u00f3m ph\u00e2n t\u00edch n\u00e0y c\u0169ng l\u01b0u \u00fd r\u1eb1ng V\u0103n ph\u00f2ng Ki\u1ec3m so\u00e1t Ti\u1ec1n t\u1ec7 M\u1ef9 (OCC) \u2014 c\u01a1 quan qu\u1ea3n l\u00fd ng\u00e2n h\u00e0ng h\u00e0ng \u0111\u1ea7u c\u1ee7a n\u01b0\u1edbc n\u00e0y \u2014 tr\u01b0\u1edbc \u0111\u00f3 \u0111\u00e3 \u0111\u1ec1 xu\u1ea5t c\u00e1c quy \u0111\u1ecbnh c\u1ea5m stablecoin cung c\u1ea5p c\u00e1c kho\u1ea3n chi tr\u1ea3 mang t\u00ednh ch\u1ea5t gi\u1ed1ng l\u00e3i su\u1ea5t cho vi\u1ec7c n\u1eafm gi\u1eef ho\u1eb7c s\u1eed d\u1ee5ng stablecoin.<\/p>\n<p>H\u1ecd n\u00f3i th\u00eam: \u201cN\u00f3i c\u00e1ch kh\u00e1c, m\u00f4 h\u00ecnh chuy\u1ec3n to\u00e0n b\u1ed9 l\u1ee3i su\u1ea5t cho ng\u01b0\u1eddi d\u00f9ng th\u1ef1c ch\u1ea5t \u0111\u00e3 ch\u1ecbu \u00e1p l\u1ef1c t\u1eeb tr\u01b0\u1edbc c\u1ea3 c\u00e1c ti\u00eau \u0111\u1ec1 v\u1ec1 Clarity xu\u1ea5t hi\u1ec7n ng\u00e0y h\u00f4m qua.\u201d<\/p>\n<p>\u0110\u1ed1i v\u1edbi Circle, vi\u1ec7c \u0111\u1ecbnh v\u1ecb USDC nh\u01b0 m\u1ed9t l\u1ef1a ch\u1ecdn tu\u00e2n th\u1ee7 ph\u00e1p l\u00fd t\u1ed1t h\u01a1n so v\u1edbi USDT c\u1ee7a Tether lu\u00f4n l\u00e0 \u01b0u ti\u00ean c\u1ed1t l\u00f5i. Theo c\u00e1c nh\u00e0 ph\u00e2n t\u00edch, ngay c\u1ea3 khi c\u00f4ng ty c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i El Salvador n\u00e0y c\u1ea3i thi\u1ec7n ti\u00eau chu\u1ea9n ki\u1ec3m to\u00e1n, \u201cv\u1eabn kh\u00f3 c\u00f3 th\u1ec3 h\u00ecnh dung nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd x\u1ebfp USDT cao h\u01a1n USDC x\u00e9t tr\u00ean kh\u00eda c\u1ea1nh ph\u00e1p l\u00fd.\u201d<\/p>\n<p>X\u00e9t \u0111\u1ebfn m\u1ed1i quan h\u1ec7 gi\u1eefa Circle v\u00e0 Coinbase \u2014 n\u01a1i s\u00e0n giao d\u1ecbch n\u00e0y ki\u1ebfm doanh thu t\u1eeb l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu Kho b\u1ea1c M\u1ef9 d\u00f9ng \u0111\u1ec3 b\u1ea3o ch\u1ee9ng cho USDC \u2014 c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a Bernstein cho r\u1eb1ng m\u1ed9t s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang hi\u1ec3u nh\u1ea7m v\u1ea5n \u0111\u1ec1.<\/p>\n<p>H\u1ecd vi\u1ebft h\u00f4m th\u1ee9 T\u01b0: \u201cCircle kh\u00f4ng tr\u1ea3 l\u1ee3i su\u1ea5t tr\u1ef1c ti\u1ebfp cho ng\u01b0\u1eddi n\u1eafm gi\u1eef USDC. L\u1ec7nh c\u1ea5m l\u1ee3i su\u1ea5t nh\u1eafm v\u00e0o c\u00e1c n\u1ec1n t\u1ea3ng ph\u00e2n ph\u1ed1i l\u1ee3i su\u1ea5t cho ng\u01b0\u1eddi d\u00f9ng cu\u1ed1i, ch\u1ee9 kh\u00f4ng nh\u1eafm v\u00e0o t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh (Circle) ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb ph\u1ea7n d\u1ef1 tr\u1eef.\u201d<\/p>\n<p>Bernstein ti\u1ebfp t\u1ee5c duy tr\u00ec khuy\u1ebfn ngh\u1ecb \u201cOutperform\u201d \u0111\u1ed1i v\u1edbi c\u1ea3 Circle v\u00e0 Coinbase, c\u00f9ng v\u1edbi gi\u00e1 m\u1ee5c ti\u00eau l\u1ea7n l\u01b0\u1ee3t l\u00e0 190 USD v\u00e0 440 USD. H\u1ecd c\u0169ng \u0111\u1ed3ng t\u00ecnh r\u1eb1ng c\u00e1c h\u1ea1n ch\u1ebf v\u1ec1 l\u1ee3i su\u1ea5t kh\u00f3 c\u00f3 th\u1ec3 l\u00e0m ch\u1eadm l\u1ea1i t\u1ed1c \u0111\u1ed9 ch\u1ea5p nh\u1eadn USDC trong nh\u00f3m t\u1ed5 ch\u1ee9c c\u0169ng nh\u01b0 ng\u01b0\u1eddi d\u00f9ng crypto-native.<\/p>\n<p>CEO Coinbase Brian Armstrong t\u1eebng cho bi\u1ebft vi\u1ec7c c\u1ea5m c\u00e1c ph\u1ea7n th\u01b0\u1edfng mang t\u00ednh ch\u1ea5t gi\u1ed1ng ti\u1ec1n g\u1eedi cho stablecoin th\u1ef1c ra c\u00f2n c\u00f3 th\u1ec3 khi\u1ebfn Coinbase c\u00f3 l\u1ee3i h\u01a1n v\u1ec1 m\u1eb7t l\u1ee3i nhu\u1eadn, b\u1edfi c\u00f4ng ty hi\u1ec7n \u0111ang chuy\u1ec3n ph\u1ea7n l\u1edbn doanh thu t\u1eeb d\u1ef1 tr\u1eef USDC cho ch\u00ednh ng\u01b0\u1eddi d\u00f9ng c\u1ee7a s\u00e0n.<\/p>\n<p>D\u00f9 v\u1eady, gi\u00e1 c\u1ed5 phi\u1ebfu Coinbase v\u1eabn \u0111\u00e3 gi\u1ea3m kho\u1ea3ng 10% trong tu\u1ea7n, xu\u1ed1ng c\u00f2n 181 USD. C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a Bernstein d\u1ef1 b\u00e1o Coinbase nhi\u1ec1u kh\u1ea3 n\u0103ng s\u1ebd t\u00ecm ki\u1ebfm m\u1ed9t ph\u01b0\u01a1ng \u00e1n thay th\u1ebf \u0111\u1ec3 v\u01b0\u1ee3t qua c\u00e1c h\u1ea1n ch\u1ebf li\u00ean quan \u0111\u1ebfn stablecoin, \u0111\u1ed3ng th\u1eddi \u201ctr\u1ea3i qua m\u1ed9t giai \u0111o\u1ea1n chuy\u1ec3n ti\u1ebfp sang m\u00f4 h\u00ecnh ph\u1ea7n th\u01b0\u1edfng m\u1edbi.\u201d<\/p>\n<p><strong>B\u1ea3n tin Daily Debrief<\/strong><\/p>\n<p>B\u1eaft \u0111\u1ea7u m\u1ed7i ng\u00e0y v\u1edbi nh\u1eefng tin t\u1ee9c n\u1ed5i b\u1eadt nh\u1ea5t hi\u1ec7n t\u1ea1i, c\u00f9ng c\u00e1c b\u00e0i vi\u1ebft g\u1ed1c, podcast, video v\u00e0 nhi\u1ec1u n\u1ed9i dung kh\u00e1c.<\/p>",
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}