Circle Chairman Heath Tarbert has sold about $30.8 million worth of Circle stock through 10 transactions since June 2025, while continuing to hold more than 500,000 CRCL shares, according to Securities and Exchange Commission filings.
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- Circle Chairman Heath Tarbert sold about $30.8 million worth of CRCL stock across 10 transactions since June 2025, SEC filings show.
- Tarbert continues to hold approximately 503,000 shares of Circle stock and has not disclosed any purchases on the open market.
- The latest filings come as Tarbert continues to defend Circle’s long-term strategy despite pressure on CRCL shares.
according to SEC Form 4 filingsTarbert completed 10 insider transactions between June 2025 and July 2026, generating approximately $30.77 million through a combination of stock sales and option exercises. Filings show he still owns approximately 503,000 shares of Circle stock and did not disclose any open market purchases during the period.
The latest filings come as Circle’s stock continues to trade well below its post-IPO peak, following increased competition in the stablecoin market and changes in major stock indexes.
Earlier this month, Tarbert He said FOX Business remains focused on building online financial infrastructure rather than reacting to daily stock movements. Asked about CRCL’s drop from around $260 to the low $60 range, he said the company is focused on long-term execution and that its stock will eventually follow if the business succeeds.
During the interview, Tarbert also defended Circle’s competitive position in the stablecoin market. He pointed to USDC’s circulation of about $73 billion and its original availability across 34 blockchains, arguing that it would be difficult for new entrants to reproduce these network effects. Circle describes USDC as a regulated digital dollar used for payments, trading, and settlement.
Stablecoin competition is impacting Circle
Recent weeks have brought new pressures on Circle following the Open Standard Open dollar footIt is a planned stablecoin backed by more than 140 companies, including Visa, Mastercard, Stripe, BlackRock, BNY, and Coinbase.
As previously reported by crypto.news, Circle shares fell 17.5% to $62.63 after Open USD entered the market and removed CRCL from several Russell Growth indices. This decline added to investor concerns about whether new revenue sharing models could challenge Circle’s stablecoin business.
Wall Street analysts have also raised questions about Circle’s earnings outlook. Mizuho reduced His price target for the stock is $50, saying Open USD’s revenue-sharing structure could pressure Circle’s margins and increase distribution costs.
Separately, JP Morgan also reduced Circle and Coinbase forecast earnings after a revised USDC revenue-sharing arrangement tied to Hyperliquid balances, saying stronger adoption could lead to a reduction in reserve income held by companies.
Even as competitive pressures increased, Circle continued to expand its regulated infrastructure. Company Received final approval From the Office of the Comptroller of the Currency on July 10 to create Circle National Trust, a federally supervised trust bank that will initially provide a digital asset custody service, with plans to manage USDC reserves as a future service.
