Circle Stock Plummets 6% in After-Hours Trading Amid 10M Share Secondary Offering

Wall Street's favorite crypto-adjacent stock just got a reality check.

Circle—the stablecoin giant behind USDC—took a 6% nosedive in extended trading after announcing a secondary offering of 10 million shares. The move reeks of opportunistic dilution—classic 'buy the rumor, sell the news' behavior from a company that just rode the crypto bull wave to all-time highs.

Timing is everything

Coming off a quarter where stablecoin adoption surged, Circle's decision to flood the market with fresh shares feels like cashing in before the music stops. The offering's size suggests insiders know something retail doesn't—or worse, they're simply topping up war chests while valuations remain frothy.

Market reacts with predictable skepticism

Traders immediately punished the stock, proving even crypto's most 'institutional' play isn't immune to Wall Street's oldest rule: when companies sell, you should probably think twice before buying. Another reminder that in traditional finance, the house always wins—even when it's dressed in DeFi clothing.