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Circle CEO responds as the stock price drops from $260 to $62
Golden Finance reported that on July 120, this week, during an interview with FOX Business, Circle president Heath Tarbert addressed doubts about the company’s stock price falling from $260 to $62. He said the company is focused on long-term development and believes that if it can achieve its mission of building full-stack internet platform infrastructure, the stock price will deliver the answer in the long run.
In the face of new competition brought by the Open USD alliance made up of 140 companies such as Visa, Stripe, Mastercard, and Google, Heath Tarbert believes that USDC, as a stablecoin natively supported on 34 blockchains, has network effects that are extremely difficult to replicate given its $73B in circulating supply. When responding to the difference from Tether’s market position, he said USDC is the world’s largest regulated stablecoin and has the highest actual trading volume.