TechFlow reports, on June 30, possibly affected by news of competition from Open USD, CRCL plummeted nearly 9% intraday at one point. Circle Co-founder and CEO Jeremy Allaire posted what appears to be a response, stating that stablecoins are reshaping monetary storage and circulation infrastructure alongside the internet, becoming one of the largest potential market opportunities globally, and emphasizing his long-term strong bullishness on this sector.
Jeremy Allaire added that Circle will continue to expand the USDC ecosystem by accessing more blockchain networks, enhancing cross-chain interoperability, and strengthening integration with the traditional financial system, including banks, payment companies, and capital market institutions, to promote further standardization of stablecoin infrastructure. He also welcomed continuous innovation and competition within the industry and stated that they will focus on building a more robust stablecoin infrastructure, while enhancing partners' ecosystem participation and economic reward mechanisms, aiming to promote the development of a "stablecoin-native internet financial system".
