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  Title	Crypto Currents: Meta plans entry into stablecoin space
  ID	30706184
  External ID	crypto-currents-meta-plans-entry-into-stablecoin-space-thefly-news
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  Published Date	Feb. 27, 2026, 9:13 a.m.
  Summary	Advertisement Advertisement Crypto Currents: Meta plans entry into stablecoin space Kelly Carroll A+ A- As bitcoin , ethereum and other cryptocurrencies see major legal, institutional, and technologic
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  URL	https://www.tipranks.com/news/the-fly/crypto-currents-meta-plans-entry-into-stablecoin-space-thefly-news
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  Content	Advertisement Advertisement Crypto Currents: Meta plans entry into stablecoin space Kelly Carroll A+ A- As bitcoin , ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the “Crypto Currents” weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio. Claim 50% Off TipRanks Premium Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential CRYPTO EARNINGS: On Wednesday, Circle Internet ( CRCL ) reported fourth quarter earnings per share of 43c on  revenue of $770.23M , which compared to analyst estimates of an EPS of 25c on revenue of $744.95M. The company also reported USDC in circulation grew 72% year-over-year to $75.3B. “The fourth quarter marked another step forward in Circle’s mission to build the infrastructure for an open, programmable internet financial system,” said Jeremy Allaire, CEO. “USDC adoption continued to expand globally as more enterprises, developers, and public institutions integrated digital dollars into real-world payments, treasury, and onchain financial workflows. We saw strong engagement across our platform, meaningful progress toward launching Arc mainnet, continued growth in CPN TPV, and growing momentum for EURC and USYC. With increasing collaboration across traditional finance, fintech, and the public sector, Circle is helping build the infrastructure for a more open and resilient global financial system.” Following the report, Wells Fargo lowered the firm’s price target on Circle to $111 from $128 and kept an Overweight rating on the shares. Amid tempered expectations and recent underperformance in shares, Circle’s underlying Q4 results were solid, driving shares up, the firm noted. Q4 top-line beat was better-than-expected, while 2026 guide is in line, Wells added. Canaccord lowered the firm’s price target on Circle to $160 from $247 and kept a Buy rating on the shares. The firm updated its model following Q4 results as the company continues to build an impressive competitive moat. The firm is encouraged by resiliency in USDC in circulation. While crypto spot prices have retrenched materially since last October, USDC in circulation is flat/slightly up over that time period, underscoring both share creation/gains versus M2 and other stablecoins, while at the same time demonstrating that USDC growth is increasingly being driven by broader blockchain development versus the price of bitcoin, the firm said. Meanwhile, Mizuho raised the firm’s price target on Circle to $90 from $77 and kept a Neutral rating on the shares. The company reported solid Q4 results, marked by better than expected revenue and profits, the analyst said. The firm updated Circle’s model to reflect the “strong” Q4 report and 2026 outlook. Additionally on Wednesday, Hut 8 (HUT) reported Q4 revenue of $88.49M, which compared to analyst estimates of $95.56M. Asher Genoot, CEO, said, “Over the past two years, we have rebuilt Hut 8 around a power-first strategy centered on high-velocity origination, disciplined greenfield development, first-principles infrastructure design, and capital-efficient execution. In 2025, this work translated into tangible growth and commercial progress across our platform.” Following the report, Northland raised the firm’s price target on Hut 8 to $70 from $58 and kept an Outperform rating on the shares, citing the firm’s revised sum-of-the-parts valuation of 445 MW of HPC, ownership of American Bitcoin ( ABTC ), the company’s bitcoin treasury holdings and liqudity, and its development pipeline. Meanwhile, Canaccord raised the firm’s price target on Hut 8 to $70 from $62 and kept a Buy rating on the shares. The firm said favorable lease terms on its recent River Bend co-location deal are only accruing more value to the broader power infrastructure portfolio. At a macro level, demand for AI data center power continues to grow, based on increasingly favorable lease terms on recent deal announcements. On Thursday, American Bitcoin reported Q4 revenue of $78.3M, which compared to revenue of $64.2M in the previous quarter. Eric Trump , CSO, said, “We launched American Bitcoin in March 2025 with a clear mandate to accumulate Bitcoin at scale. Six months later, we were trading on the Nasdaq. By year-end, we held 5,401 Bitcoin on the balance sheet, and that figure has since grown to more than 6,000 Bitcoin. That kind of progress does not happen by accident. It reflects decisive execution and a team operating with conviction. Our model combines scaled mining production with at-the-market purchases for rapid accumulation of our strategic reserve.” MORE CRYPTO EARNINGS: On Wednesday, DMG Blockchain Solutions ( DMGGF ) reported a Q1 loss per share of (C$0.01) on revenue of C$11.2M, which compared to a loss per share of (C$0.02) on a revenue of C$11.6M last year. The company reported 69 bitcoin mined in the quarter, down from 97 bitcoin mined in 1Q25. DMG’s CEO, Sheldon Bennett, commented, “In Q1 2026, we continued to execute on our two strategic pillars: our Core data center operations and our Core+ Digital Asset Financial Services. We are highly focused on converting our Christina Lake facility into an AI data center capable of providing at least 50 megawatts of critical IT load to fill an industry gap in available capacity. Simultaneously, we are building out our Digital Asset Financial Services, with Systemic Trust serving as the cornerstone for future revenue growth. We are actively pursuing AI off-takers and potential government partnerships, as we believe these strategic initiatives will deliver lasting value to our shareholders.” H.C. Wainwright downgraded DMG Blockchain to Neutral from Buy without a price target. While the company’s Q1 results show sales resilience due to a one-time recognized energy incentive of $1.5M, the company’s underlying mining economics are under pressure, the analyst said. The firm now sees an unattractive risk/reward for DMG shares. On Thursday, Mara Holdings (MARA) reported a Q4 loss per share of ($4.52) on revenue of $202.3M, which compared to analyst estimates of a loss per share of ($1.17) on revenue of $251.3M. As of December 31, the company held a total of 53,822 bitcoin. Additionally on Thursday, MARA announced it had entered into a strategic agreement with Starwood Capital Group and their dedicated data center development platform Starwood Digital Ventures. The partnership will enable the conversion and expansion of select MARA sites into next generation digital infrastructure capable of meeting the growing demand from enterprise, hyperscale and AI customers. Together, MARA and Starwood will jointly develop, finance, and operate digital infrastructure projects across MARA’s existing, power-rich portfolio. CEO Fred Thiel said, “MARA has evolved far beyond the asset-light, hosted model of its past. Today, we operate a vertically integrated portfolio spanning power and compute at scale. Power ownership guides every decision we make, from capital allocation and partnerships to organizational design. Bitcoin mining remains the backbone of our enterprise, distinctly capable of monetizing energy at scale, while AI and advanced compute extend the durability and flexibility of the platform. We view 2026 as an inflection point. With infrastructure in place, upgrades underway, the Starwood partnership advancing select assets toward hyperscale tenancy, and Exaion expanding our enterprise AI capabilities, we are positioned to execute on our strategy.” On Thursday, TeraWulf ( WULF ) reported a FY25 loss per share of ($1.66) on revenue of $168.5M, which compared to a loss per share of (21c) on revenue of $140.1M for FY24. The company said, “Fiscal year 2025 marked a fundamental inflection point for TeraWulf as the company executed long-term data center lease agreements totaling 522 critical IT MW, providing multi-year revenue visibility, stable cash-flow characteristics, and scalable development capacity extending through the end of the decade. TeraWulf delivered a transformational fourth quarter, achieving major commercial, operational, and financial milestones that position the company as a leader in sustainable HPC infrastructure.” COINBASE REPORTS STOCK TRADING AVAILABLE TO ALL U.S. USERS: Coinbase ( COIN ) announced Tuesday that stock trading is available to all its users in the United States. “You can now buy, sell, and manage stocks and ETFs right alongside your crypto holdings – 24/5, with zero commission…You can fund your trades instantly using both USD and USDC, with Coinbase One members earning uncapped rewards on their USDC trading balance. And with fractional shares, start trading stocks with as little as $1,” the company said in a blog post. “We’re starting with the market’s leading equities and plan to expand 24/5 trading to thousands more stocks over the coming months. This spring, Coinbase also plans to broaden stock perpetuals, enabling traders outside the U.S. to get 24/7, capital-efficient exposure to U.S. equities,” it added.  “As part of this milestone, Coinbase and Yahoo Finance are partnering to enable users to move from researching an asset on Yahoo Finance to executing a trade on Coinbase with one simple click. Yahoo Finance will also offer traders seamless asset discovery and tracking within the Yahoo Finance interface. This marks a major step in bridging traditional markets with the digital asset economy,” the company said. Also on Tuesday, Apex Fintech Solutions announced its collaboration with Coinbase, through Coinbase Capital Markets Corp., to power the stock trading capabilities of their “Everything Exchange” platform. Through Apex’s clearing, custody, and execution services for equities, Coinbase users can now trade stocks and ETFs alongside their cryptocurrency holdings, all in a single, unified experience. Meanwhile, BofA lowered the firm’s price target on Coinbase to $288 from $340 and kept a Buy rating on the shares. The firm is revising EPS estimates for several of its covered brokers, asset managers and exchanges that recently reported earnings. Additionally, Monness Crespi attributed the selloff in shares of Coinbase to President Trump’s tariff moves, continued exchange traded fund outflows, and “signs of whales moving HODLs onto exchanges.” Monness also believes the probability assigned to the CLARITY Act passing “remains too high in certain corners.” Clarity on the stablecoin loophole remaining open in the next draft of CLARITY Act “is far too optimistically priced in,” the analyst said. The firm would add to Coinbase shorts at current share levels. It reiterated a Sell rating on the stock with a $120 price target. CANAAN ACQUIRES CIPHER’S INTEREST IN TEXAS PROJECTS: Canaan (CAN) announced Monday that it has acquired Cipher Mining’s ( CIFR ) 49% equity interest in the joint venture comprising Alborz, Bear, and Chief Mountain. Following the acquisition, the company now owns a 49% stake in the ABC projects, while WindHQ maintains its 51% stake in the ABC projects. The sites currently operate a total of 120 MW of power capacity and support approximately 4.4 EH/s of total operating hashrate. Fleet efficiency currently stands at approximately 25.7 J/TH with the potential for hardware and infrastructure upgrades. As part of the transaction, the company also purchased an additional 6,840 Canaan Avalon A15Pro-AVG-221T mining rigs from Cipher. The total consideration for the transaction is approximately $39.75M. On Tuesday, Cipher reported FY25 adjusted earnings per share of 6c on a revenue of $223.9M, which compared to adjusted EPS of 33c on a revenue of $151.27M for FY24. “Building on a transformative 2025, the fourth quarter reflected continued momentum as we advanced our evolution into a leading HPC data center development company,” said Tyler Page, CEO. “During the quarter, we upsized our initial lease with Fluidstack and Google and signed our first HPC lease with Amazon. In addition, we successfully executed multiple high yield bond offerings to finance two of our existing HPC projects at Barber Lake and Black Pearl. In recognition of this successful shift in our business model and strategic priorities going forward, we are proud to now officially operate as Cipher Digital.” Following the news, Clear Street lowered the firm’s price target on Cipher to $32 from $34 and kept a Buy rating on the shares. The firm remains bullish on the stock coming out of Q4 earnings as it sees a clear step-change in Cipher’s earnings profile beginning in Q4 as lease revenue from Amazon and Fluidstack begins contributing in earnest, the analyst said. This inflection is underappreciated, particularly given the quality of counterparties and long-duration nature of the leases, the firm added. Meanwhile, B. Riley lowered the firm’s price target on Canaan to $2 from $2.50 and kept a Buy rating on the shares. The revised price target reflects the company’s Q4 results and the acquisition of Cipher’s 49% stake in three West Texas sites, the analyst said. META LOOKS TO ENTER STABLECOIN SPACE: Meta (META) is planning to enter the stablecoin space later this year, pending integration with a third-party company to enable payments using the dollar-pegged token technology, Coindesk’s Ian Allison reported Tuesday, citing three people familiar with the plans. The tech giant is aiming to begin stablecoin integration early in 2H26 and expects to integrate a vendor to assist in administering stablecoin-backed payments and implementing a new wallet. A source said Meta has issued a request for product to third-party firms and noted Stripe as a possible candidate for piloting the stablecoin, according to the report. OTHER CRYPTO NEWS: Strategy ( MSTR ) acquires 592 bitcoin for $39.8M Bitmine Immersion ( BMNR ) reports ETH Holdings of 4.423M tokens, total holdings $9.6B B. Riley lowers price target on Bitmine to $30 from $47, on FG Nexus ( FGNX ) to $13 from $25, on Nakamoto ( NAKA ) to 50c from $1, on SharpLink Gaming ( SBET ) to $10 from $19 DDC Enterprise ( DDC ) purchases additional 50 bitcoin Payoneer Global ( PAYO ) files application for U.S. national trust bank charter Bitcoin Depot ( BTM ) introduces new compliance policy, price target adjusted to $6 at Noble Capital after reverse split Hyperscale Data ( GPUS ) reports bitcoin treasury at 605.99 bitcoin IP Strategy ( IPST ) launches treasury yield-enhancement program Solana Company ( HSDT ) plans for investment in low-latency cluster in Asia Pacific DeFi Development ( DFDV ) announces investment in Apyx iPower ( IPW ) enters non-binding MOU with Nanopulse AlphaTON Capital ( ATON ) initiated with a Buy at H.C. Wainwright BNB Plus Corp. ( BNBX ) reports BNB token holdings valued at $10.7M as of February 23 Sharps Technology ( STSS ), The Tie announce strategic collaboration Citi starts Galaxy Digital ( GLXY ) at Neutral amid ‘complexity’ from breadth CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital ( BTBT ), Coinbase, Core Scientific ( CORZ ), Greenidge Generation ( GREE ), Mara Holdings, Strategy, Riot Platforms (RIOT) and TeraWulf. PRICE ACTION: As of time of writing, bitcoin dropped roughly 3% this week to $66,046 in U.S. dollars, according to CoinDesk. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders’ Hot Stocks on TipRanks >> Read More on CRCL: Circle Internet price target raised to $75 from $71 at Deutsche Bank Circle Internet price target raised to $90 from $77 at Mizuho Circle Internet price target lowered to $160 from $247 at Canaccord Circle Internet price target lowered to $111 from $128 at Wells Fargo Circle Internet price target raised to $92 from $85 at Clear Street Disclaimer & Disclosure Report an Issue 1 Latest News Feed More Market News > More Articles More News > Stock Comparison Quantum Computing AI Cryptocurrency Bitcoin Stocks Dividend Value Biotech Oil Chinese Chat GPT Banks Airline Beer & Beverages Energy Investment Ideas Analyst Top Stocks Smart Score Stocks Stock Screener Top Wall Street Analysts Insiders' Hot Stocks Top Penny Stocks Unusual Options Activity Top ETFs by Upside Potential Advertisement
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