Circle CEO Shrugs Off Bitcoin's Slump and Pitches Digital Dollars for the AI Era

In a CNBC interview, Circle CEO Jeremy Allaire dismissed Bitcoin’s underperformance this year and said he is focused on non-speculative digital dollars built for AI software to move money. Circle issues USD Coin, a dollar-pegged stablecoin designed to hold a steady $1 value. The Office of the Comptroller of the Currency, a federal banking regulator, is finalizing rules for the 2025 GENIUS Act, which governs stablecoins; its proposal would require reserves at least equal to outstanding stablecoins, redemption at par within two business days, and bar issuers from paying holders interest. Allaire said the rules bear directly on Circle, while 21 institutions have committed to a joint stablecoin issuer.