Peter Schiff says “the crypto trade is over” after Circle Internet Group Inc. (CRCL) stock lost more than 70% from its June high.
The company, known for issuing USDC, now faces questions about its market strength and outlook among crypto-related stocks.
Peter Schiff Breaks Silence on Circle Stock
Circle stock has taken a big hit in recent months. The company went public on the New York Stock Exchange in June 2025 and saw strong early demand.
CRCL shares rose close to $300, a jump of about 1,000% from the IPO price. However, that rise did not last long.
Interestingly, by November, the Circle stock had dropped to $86.30, marking a 70% fall from its June peak.
Meanwhile, Peter Schiff, a well-known financial commentator and supporter of gold, has used the fall in Circle’s share price to renew his criticism of crypto investments.
He said on X that the crypto trade is over. Schiff pointed out that investors who bought at the IPO are still up about 150%.
Likewise, those who bought at the opening price are up around 25%. He warned, however, that if the stock keeps falling, even those investors will be down.
Circle’s decline has come despite its link to USDC, the world’s second-largest stablecoin.
The stock had attracted strong attention from market participants who believed in the company’s role in digital payments.
However, its recent price slide has raised concerns about whether investor confidence in crypto-related companies is starting to fade.
Circle Focuses on Growth and Adoption
Circle’s CEO, Jeremy Allaire, has tried to shift attention back to the company’s long-term plans.
In an interview on CNBC, he said Circle is building a full stack internet platform business.
He explained that the company is working from the network level up to applications that serve large companies using digital currencies.
Allaire said the firm has seen technology advancing rapidly and that many businesses around the world are already using its tools.
He believes Circle’s technology will help bridge the gap between traditional finance and the digital asset market.
The company’s most recent earnings report mentioned steady growth in USDC adoption.
Circle says that hundreds of companies are using its services to move money, make payments, and manage digital assets.
While the Circle stock may have dropped, the firm insists its core business remains strong.
Notably, the firm continues to invest in its infrastructure and aims to grow its user base through partnerships with major institutions.
Market Reaction and What Comes Next
The fall in Circle stock has caught the attention of both crypto traders and stock investors.
CRCL traded between $85.86 and $95.52 during the latest session, with pre-market trading showing a small rise to $87.10.
The company’s market value now stands at about $19.84 billion, with an average trading volume of 10.47 million shares.
Market watchers believe the decline could influence how investors view other crypto-linked firms.
Circle was seen as one of the more stable players in the sector, given its connection to USDC.
The drop in its stock might make traders more cautious toward similar listings in the future.
Some analysts say the fall may just be part of a correction after an overhyped IPO. Others think it reflects a deeper doubt about crypto’s place in public markets.
Of course, Schiff’s comments have added more attention to the issue, but opinions remain divided.
Circle continues to stress its long-term mission. The company believes that as digital currencies gain wider use, its business will recover.
For now, the stock remains under pressure, but its leadership is focused on technology and partnerships that could help it regain strength.