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JPMorgan says Circle faces 'intense' competition from Tether, Hyperliquid and fintech rivals. However, the analysts note the emerging competition is likely to be a “zero-sum game,” with U.S. issuers mainly trading market share unless the overall crypto market expands significantly.

JPMorgan says Circle faces 'intense' competition from Tether, Hyperliquid and fintech rivals. However, the analysts note the emerging competition is likely to be a “zero-sum game,” with U.S. issuers mainly trading market share unless the overall crypto market expands significantly.
The Block •
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