Circle (CRCL) Stock Crashes 71%—Crypto Believers Reeling From Market Shock

Crypto's golden child just face-planted—hard. Circle's CRCL token got obliterated in today's bloodbath, vaporizing 71% of its value before lunchtime.

Wall Street's usual vultures are already circling. 'This is why we can't have nice things,' muttered one hedge fund manager between sips of his $28 artisanal cold brew.

Meanwhile, crypto Twitter's coping hard—some calling it a 'healthy correction', others quietly updating their LinkedIn profiles. The real question: who's buying this dip? (And more importantly—should you?)

Fun fact: this crash happened faster than a DeFi exploit. At least the hackers usually leave 10%. Market's closed—time to drink your feelings and check those leverage positions.

• The stock of Circle (CRCL) has nosedived by 71% from its highest point of $300 which has cast shadows over the whole crypto sector.
• Peter Schiff is saying that the decline is the evidence that the “crypto trade has finished.”
• Even though the early gains were there, Schiff still gives a warning to CRCL holders that they might lose more further ahead.

Circle, the organization responsible for USDC, which is the second-largest stablecoin in the world, got listed on the New York Stock Exchange in June 2025. At that time, the market was very positive. The prices of cryptocurrencies were rising very fast, and the ticker of CRCL, attracted attention. The initial public offer was a big success – its price increased almost 1,000%, reaching $300 per share.

For a brief moment, Circle was able to showcase the crypto industry’s renewed interest in Wall Street. It was seen by investors as the next large fin-tech story. Analysts considered it a bridge between traditional finance and the modern digital frontier. But the situation changed again in just four months.

Circle’s Meteoric Rise and Sudden Fall

The stock price has gone down. In November, CRCL fell to $86.3, which represents a 71% decrease from its highest point. This month the largest drop happened when Circle’s market value was halved in no time at all.

The atmosphere has changed and the traders of the past are not celebrating CRCL’s success any more. The excitement is gone. The issuer of the stablecoin has lost its once vibrant life and uncertainty has come in.

Peter Schiff Targets Circle, Again

Peter Schiff, long-time opponent of Bitcoin and gold advocate, made use of this opportunity. He posted on X that the downfall of CRCL is testimony to the fact that the “crypto trade is over.” For Schiff, it wasn’t a question of Bitcoin, Ethereum, or XRP this time. Circle was the target of his wrath, the company that was once called the one that gave the crypto industry credibility.

The crypto trade is over. $CRCL is down over 70% from its June peak. However, if you bought on the open on IPO day, you’re still up about 25%. Those investors lucky enough to get in on the IPO are still up over 150%. But if they don’t sell soon, even those investors will be down.

Schiff remarked that the price is still higher than at the time of the IPO. “But in case holders don’t liquidate their stakes now, it won’t take long for them to suffer losses.” His caution sounded rough, particularly for him. Schiff’s position is quite clear: he considers cryptocurrencies as mere speculation, not good cash. Even the case of CRCL, which has USDC fully backed by real dollars, does not change his mind.

Everything is part of a fickle universe, which is not built on fundamentals but on hype. Riping the argument ahead, a crash down Circle, so their top fall, could have come as a confirmation.

Nevertheless, underneath Schiff’s vocabulary there is a more profound issue, did Circle’s ascendance happen too quickly to be sustained, or is this just a market adjustment prior to another innovation wave? Only time can answer that. The trust circle is now broken, perhaps troubled investors may take a while to define another crypto dream.