Circle Internet Group shares plummeted 17.5% to a four-month low of $62.63 on July 5. The company is currently facing a criminal complaint in Wisconsin for allegedly failing to comply with a court order to recover stolen USDC funds linked to an investment fraud probe. While the stock rose 5% to $66.14 on July 13 following US regulatory approval for its national trust bank, it remains down approximately 20% year-to-date with technical indicators suggesting potential further declines.
Circle shares rose to $66.14 following US regulatory approval for its national trust bank, yet the stock remains down 20% year-to-date with bearish technical signals.
Read the full storyCircle Internet Financial is accused of failing to comply with a court order to freeze and recover 381,000 USDC linked to an investment fraud case.
Circle shares hit a four-month low as investors fear the new OUSD stablecoin, backed by industry giants, poses a structural threat to USDC's market share.