Russell index rebalancing adds passive selling pressure, while Open USD stirs up trouble; Allaire is talking tough, but the stock price has already made the point.

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CoinNetwork
Circle stock falls 17.5% due to Russell index adjustment and Open USD launch.
CoinWorld reported that Circle's stock price fell 17.5% after being removed from the Russell 1000/3000 and Mid-Cap Growth Index. Selected as one of 27 out of 2,400 applications, relevant index funds may adjust CRCL holdings, curbing passive buying and selling. CRCL is currently priced at $62.63, down from its opening of $72.68, with a decline of about 40% in recent months. At the same time, Circle faces pressure from Open Standard to promote Open USD. CEO Allaire stated that USDC remains the most trusted institutional-grade stablecoin globally.
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