Woofun AI reports that Circle’s stock price declined over 16% on Tuesday following the announcement of Open USD, a new stablecoin backed by more than 140 entities including Visa, Stripe, Mastercard, BlackRock, and Coinbase. Investors are evaluating the potential competitive impact on USDC, while William Blair analysts Andrew Jeffrey and Adib Choudhury described the sell-off as exaggerated and reaffirmed their "Outperform" rating. They characterized the competition as inevitable but argued that USDC’s approximately $74 billion market capitalization, robust liquidity, and established payment infrastructure position Circle favorably. The analysts expressed skepticism toward Open Standard’s claims, noting that Circle already provides similar partner incentives and comparing Open USD to past alliances like MCX and Paze that struggled to gain traction. Circle CEO Jeremy Allaire stated on X that USDC remains "the world's most trusted, most widely adopted, and most institutionally ready stablecoin," emphasizing continued ecosystem expansion. Tether CEO Paolo Ardoino commented, "Welcome OUSD, the second player has joined the game."