{"id":33530,"date":"2026-07-01T06:50:48","date_gmt":"2026-07-01T06:50:48","guid":{"rendered":"https:\/\/bitunikey.com\/news\/circle-stock-falls-17-5-after-russell-removals-and-open-usd-launch\/"},"modified":"2026-07-01T06:51:05","modified_gmt":"2026-07-01T06:51:05","slug":"circle-stock-falls-17-5-after-russell-removals-and-open-usd-launch","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/circle-stock-falls-17-5-after-russell-removals-and-open-usd-launch\/","title":{"rendered":"Circle stock falls 17.5% after Russell removals and Open USD launch"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Circle shares fell sharply after CRCL was removed from several Russell Growth indexes and a new stablecoin rival entered the market.<\/p>\n<div id=\"cn-block-summary-block_e3e60ed2cc01765f586783b82ff461de\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Circle left multiple Russell Growth indexes, raising questions about passive ownership and near-term CRCL liquidity.<\/li>\n<li>CRCL fell 17.5% as Open USD introduced fresh competition for USDC\u2019s stablecoin model this week.<\/li>\n<li>Allaire defended USDC\u2019s market position, while Tether\u2019s Ardoino welcomed another stablecoin rival entering the field.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Simply Wall St <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/simplywall.st\/stocks\/us\/software\/nyse-crcl\/circle-internet-group\/news\/circle-crcl-just-dropped-out-of-five-major-russell-growth-in\" target=\"_blank\" rel=\"nofollow\">reported<\/a> that Circle Internet Group was removed from multiple Russell Growth benchmarks during the latest annual reconstitution. The changes included the Russell 1000 Growth Index, Russell 3000 Growth Index and Russell Midcap Growth Index.<\/p>\n<p>The report said index-linked funds and institutional mandates that track these benchmarks may adjust their exposure to CRCL. Such changes can affect passive ownership and trading activity around rebalancing dates, especially for stocks with recent market volatility.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>CRCL price falls after rebalancing<\/strong><\/h2>\n<p>According to Google finance <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.google.com\/finance\/beta\/quote\/CRCL:NYSE\" target=\"_blank\" rel=\"nofollow\">data<\/a>, CRCL traded at $62.63, down about 17.5%, after touching an intraday low of $62.00. The stock opened at $72.68 before extending losses during the session.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Source: Google finance<\/figcaption><\/figure>\n<p>The latest fall followed a wider 30-day decline.<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/simplywall.st\/stocks\/us\/software\/nyse-crcl\/circle-internet-group\/news\/circle-crcl-just-dropped-out-of-five-major-russell-growth-in\" target=\"_blank\" rel=\"nofollow\"> <\/a>CRCL had dropped 40% over the past month, a move it said may reflect selling pressure tied to index removal.<\/p>\n<p>The Russell changes came during a broader reconstitution of U.S. equity benchmarks. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.lseg.com\/en\/media-centre\/press-releases\/ftse-russell\/2026\/ftse-russell-begins-june-2026-semi-annual-russell-us-indexes-reconstitution\" target=\"_blank\" rel=\"nofollow\">FTSE Russell<\/a> said its June 2026 process included changes across growth, value and size-based indexes as market leadership shifted.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Open USD adds new USDC rival<\/strong><\/h2>\n<p>Circle also faced fresh pressure after the launch of Open Standard, a new stablecoin network backed by more than 140 businesses.<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/consortium-including-visa-mastercard-jointly-launch-new-global-stablecoin-2026-06-30\/\" target=\"_blank\" rel=\"nofollow\"> <\/a>Visa, Mastercard and Coinbase were among the companies tied to the initiative, which plans to issue a U.S. dollar-pegged stablecoin called Open USD.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cExisting stablecoins have great strengths, but to use them at scale, businesses need something that\u2019s open, low-cost, high-throughput, broadly accessible, and aligned to their interests,\u201d Open Standard founding CEO Zach Abrams said.<\/p>\n<\/blockquote>\n<p>As reported by crypto.news, Open USD will offer free minting and redemption while sharing reserve earnings with ecosystem participants after a management fee. That model differs from Circle\u2019s USDC business, where reserve income remains central to the company\u2019s revenue base.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Circle and Tether chiefs respond<\/strong><\/h2>\n<p>\u201cUSDC remains the most trusted, widely adopted, institutional-ready stablecoin in the world,\u201d Circle CEO Jeremy Allaire <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/jerallaire\/status\/2071965910890385876\" target=\"_blank\" rel=\"nofollow\">said<\/a> in a post on X. He said Circle would keep investing across banks, payment companies, capital markets firms and enterprise use cases.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stablecoins represent one of the largest market opportunities in the world as the internet transforms the infrastructure for storing and moving money. We deeply believe in this, and it\u2019s why we both founded Circle and why we\u2019ve invested to build the largest regulated stablecoin\u2026<\/p>\n<p>\u2014 Jeremy Allaire \u2013 jerallaire.arc (@jerallaire) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/jerallaire\/status\/2071965910890385876?ref_src=twsrc%5Etfw\">June 30, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>\u201cWelcome OUSD. Player 2 has entered the game,\u201d Tether CEO Paolo Ardoino said in a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/paoloardoino\/status\/2071982330915225771\" target=\"_blank\" rel=\"nofollow\">post on X<\/a>. His comment came as Open USD added another large-name rival to a market led by USDT and USDC.<\/p>\n<p>Previously, crypto.news reported that Circle\u2019s NYSE listing under CRCL had turned USDC into one of Wall Street\u2019s most closely watched stablecoin plays. The stock\u2019s latest move shows how index changes and stablecoin competition are now both shaping investor views on Circle.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Circle shares fell sharply after CRCL was removed from several Russell Growth indexes and a new stablecoin rival entered the market. Summary Circle left multiple Russell Growth indexes, raising questions&hellip;<\/p>\n","protected":false},"author":1,"featured_media":33531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=33530"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33530\/revisions"}],"predecessor-version":[{"id":33532,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33530\/revisions\/33532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/33531"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=33530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=33530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=33530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}