Circle President Defends Stock Plunge From $260 to $62 but Sold $31M in CRCL Shares
Circle President Heath Tarbert publicly defended the stablecoin issuer's long-term prospects after its stock (CRCL) plunged from approximately $260 to $62. However, SEC filings reveal Tarbert sold nearly $30.77 million in CRCL shares across 10 transactions since the company's market debut in June 2025. Tarbert argued that USDC's network effects and regulatory standing would protect Circle from competition, including the new OpenUSD consortium backed by over 140 companies like Visa and Coinbase. Meanwhile, Mizuho downgraded Circle to Underperform, cutting its price target from $85 to $50 due to margin compression concerns. Tarbert still holds about 503,000 shares, but the lack of open-market purchases and the timing of his sales have drawn scrutiny.
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