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I don’t think this is the original reason, but it has been found to happen. Also, your risk of penile cancer goes to almost zero, as well as fewer and less serious complications related to the foreskin (or its absence). Going fully nude while circumcised is a dangerous game, though.
Source?
Here’s what the CDC had to say about their original statements and a rebuttal to criticisms about circumcision. It only obliquely mentions genital cancer, but this article specifically discusses that.