Two major news events caused CRCL to plummet 17.55%, closing at a historical low of $62.63

According to Gate's market data, Circle (CRCL), one of the leading stocks in the U.S. cryptocurrency sector, saw a significant drop of 17.55% on Tuesday's trading day, closing at $62.63, which is in the historical low range.
On the news front, the new stablecoin project Open Standard announced support from over 140 companies, including Visa, Mastercard, American Express, Stripe, BlackRock, Coinbase, Google, BNY Mellon, Standard Chartered, DBS, U.S. Bank, Shopify, DoorDash, IBM, among others, covering payment giants, traditional banks, asset management, crypto-native companies, and tech platforms. The company plans to launch its stablecoin—Open USD—later in 2026, which will be deployed across multiple chains including Base (Coinbase), Solana, Stellar, Polygon, and Ripple.

In addition, news about the Russell Index removing CRCL is also continuing to develop. It is reported that the Russell Index underwent an adjustment after the market closed on June 26, and CRCL (Circle Internet Group, NYSE: CRCL) has been removed from several major Russell growth indices, including the Russell 1000 Growth. Passive funds/ETFs tracking these growth indices will make mechanical adjustments, leading to the selling of CRCL shares.