Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingCircle Internet Group shares fell nearly 7%, falling nearly 7% despite receiving a New York trust license
USDC stablecoin issuer Circle Internet Group (NYSE: CRCL) announcing a key regulatory milestone on July 31 as the company is about to report quarterly earnings.
The cryptocurrency company plans to announce its second quarter 2026 financial results on August 5. Ahead of the earnings release, research and brokerage firm Bernstein lowered its target price for Circle shares by 25% to $140 from $190.
Circle obtains New York Trust Company License
On July 31, Circle announced that its entity, Circle Internet Trust Company LLC (operating under the name of Circle New York Trust), has obtained a limited purpose trust company license issued by the New York State Department of Financial Services (NYDFS).
The company said the license allows Circle New York Trust to operate as a regulated trust company under the Banking Act of New York. Circle said the entity will be responsible for overseeing reserve assets that support USDC, one of the world's largest stablecoins, while also providing digital asset custody services to institutional clients.
The company added that the approval strengthens its regulatory framework in the United States and supports its efforts to expand regulated digital financial infrastructure.
Shares remain under pressure ahead of earnings
Circle shares have not gained momentum despite regulatory approval. The intraday trading price fell nearly 7% to about $60 last Friday, as investors turned their attention to the company's upcoming earnings report and Bernstein's lowered target price.
The trust license is another move by Circle to expand its regulatory layout, but market reaction shows that investors are still focusing on the company's financial performance and prospects ahead of its August 5 earnings report.
