**** Circle drops as payment giants launch a rival stablecoin**

**Circle (****$CRCL****)** fell **16.3%** after **Mastercard**, **Stripe**, **BNY**, and other financial firms unveiled **Open USD**, a new stablecoin built as shared infrastructure.

Unlike **USDC**, Open USD distributes reserve yield across its partners instead of a single issuer. The project directly targets a market currently dominated by **USDC** and **USDT**.
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The pressure is building from multiple directions. Insiders have sold about **$225 million** more stock than they've bought over the past year, while the **Fed** is proposing stricter rules for stablecoin issuers.

 [@venture](https://t.me/venture)