Open USD Sends Shockwaves Through Circle's Stock Despite Backers' Support for USDC

Circle's stock was rattled by Open USD, but its key backers are still supportive of USDC.

Open USD is a new stablecoin that has garnered significant attention in the crypto space. The news of Circle's potential decline sent shockwaves through the market, causing some investors to question the stability of USDC.

However, despite this, key backers such as Polychain Capital and Third Rock Ventures remain committed to supporting USDC.