TLDR Tech / Crypto
Circle removed from multiple Russell Growth indexes
Circle was removed from the Russell 1000 Growth, Russell 3000 Growth, and Russell Midcap Growth indexes during the June 26 annual reconstitution, a move that risks prompting passive funds tracking those benchmarks to reduce their holdings. Shares had already fallen 32.8% in the prior 30 days and dropped another 16.55% to $62 on July 1. The most recent decline was directly linked to the Open USD announcement, which positioned a 140-company stablecoin consortium as a direct competitor to USDC.
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