币界网报道：Circle, the issuer of the USDC stablecoin, received a "neutral" rating from Compass Point Research & Trading, with analysts citing concerns over its reliance on interest income from Treasury holdings amid shifting regulatory landscapes. While USDC remains the second-largest stablecoin by market cap, its share has declined from 34% to 23% over the past year, partly due to the fallout from the Silicon Valley Bank collapse in March 2023. Compass Point noted Circle's efforts to diversify revenue streams, including its recent public debut via a SPAC merger, but highlighted risks such as potential regulatory scrutiny and competition from other stablecoins like Tether. The report also pointed to Circle's expansion into international markets and new blockchain integrations as positive steps, though profitability remains uncertain in the near term.