On June 5, Circle Internet Corp. fell 5.25% in regular trading, trading at $83.89/share, with trading volume of $654 million. The decline extends a multi-day selloff driven by mounting regulatory headwinds facing the stablecoin industry.

On the news front, the CLARITY Act currently under review in the U.S. Congress continues to pressure market sentiment. Chapter 4 of the proposed legislation would prohibit stablecoin issuers from directly paying interest or yields to holders, aiming to prevent stablecoins from evolving into on-chain savings accounts and to protect traditional banks' deposit bases. JPMorgan CEO Jamie Dimon recently warned that major banks will fight back against the current version of the digital asset legislation and argued that crypto platforms such as Coinbase should face bank-equivalent regulatory oversight. Platforms currently offer approximately 3.5% returns on dollar-pegged stablecoins, far exceeding near-zero bank checking account rates.

Circle had already declined sharply in prior sessions due to the combination of regulatory concerns and insider Form 144 filings signaling potential share sales. The current consensus target price of $145.17 from 28 institutions remains significantly above the current trading level, though near-term policy uncertainty continues to dominate price action.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)