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Circle Shares Plunge 17% as Open USD Launches on Solana

7/4/2026

50 8 Full Breakdown

Summary

Story summary

Circle (CRCL) stock fell 17% in 24 hours after a coalition of 140 firms announced Open USD (OUSD) on Solana.
OUSD, backed by Visa, Mastercard, Stripe, BlackRock, Coinbase Global and Ripple, will give reserve-interest earnings to the businesses that mint, hold and route the token.
Launch on Solana, which holds $15 billion in value, could divert billions of fees from Ethereum’s $154 billion pool and cut USDC demand on Hyperliquid and Ethereum.

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Story summary

Circle (CRCL) stock fell 17% in 24 hours after a coalition of 140 firms announced Open USD (OUSD) on Solana.
OUSD, backed by Visa, Mastercard, Stripe, BlackRock, Coinbase Global and Ripple, will give reserve-interest earnings to the businesses that mint, hold and route the token.
Launch on Solana, which holds $15 billion in value, could divert billions of fees from Ethereum’s $154 billion pool and cut USDC demand on Hyperliquid and Ethereum.