Circle Stock Plunges 17.55% to Historic Lows as Open Standard Stablecoin Project Gains 140+ Backers and Russell Index Drops CRCL
Shares of Circle (CRCL), a leading crypto-concept stock in U.S. equities, slumped 17.55% on Tuesday to $62.63, nearing all-time lows. Two negative catalysts emerged simultaneously: the new stablecoin project Open Standard announced support from over 140 companies, including Visa, Mastercard, BlackRock, Coinbase, Google, and BNY Mellon, with its Open USD stablecoin slated for a 2026 multi-chain launch on Base, Solana, Stellar, Polygon, and Ripple; and the Russell Indexes removed CRCL from its Russell 1000 Growth and other growth indices after the June 26 close, triggering forced selling by passive funds tracking these benchmarks. The dual blows have intensified market concerns over Circle's competitive positioning and index-driven outflows.


