Circle's stock price fell from $260 to $62, Heath Tarbert says the company is focused on long-term development

Odaily Planet Daily News Circle President Heath Tarbert responded to questions about the stock price falling from $260 to $62 in an interview this week, stating that the company is focusing on long-term development and that if it can achieve its mission of building a full-stack internet platform infrastructure, the stock price will ultimately reflect that in the long run. Facing new competition from the Open USD Alliance, which consists of 140 companies including Visa, Stripe, Mastercard, and Google, Heath Tarbert said that USDC, as a stablecoin natively supporting 34 blockchains, has a network effect built upon its $73 billion circulation that is extremely difficult to replicate. Addressing the differences in market position compared to Tether, he stated that USDC is the world's largest regulated stablecoin with the highest actual transaction volume.