By Isaac • June 30, 2026 11:44 pm •
Circle shares fell more than 16% on June 30 after Open Standard unveiled Open USD, a new stablecoin backed by more than 140 companies.
The backer list is the part that rattled the market. Visa, Stripe, Mastercard, BlackRock, and Coinbase are all in.
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Open USD has not launched yet. What it did launch was a very direct question about how much Circle’s business is actually worth.
That question hit the stock first and the debate second.
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’s why we both founded Circle and why we’ve invested to
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