Circle President Heath Tarbert has sold more than $30 million in Circle Internet Group (CRCL) stock since the June 2025 IPO. 

The selling comes amid a 76% stock collapse, and he continues to call for patience. Still, the filings tell a duller story. Most trades were scheduled far ahead and executed automatically.

What the Filings Show

Tarbert has sold shares in 7 of the 13 months since Circle went public. His largest sale came on March 2, 2026. He offloaded 122,007 shares, worth about $11.5 million, according to SEC Form 4 filings.

Eight of the ten sales were executed under a Rule 10b5-1 plan. These plans are written trading schedules that executives adopt while unaware of material nonpublic information. The broker then executes trades automatically, giving the insider a defense against insider trading claims.

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The other two came at share offerings. Tarbert sold 80,000 shares around the June 2025 IPO. He sold an additional 31,925 shares in an August secondary offering.

So most of the selling carries no signal about his outlook. Roughly $24.4 million ran on preset schedules. Those trades are consistent with routine equity compensation diversification.

The Long Game Defense Meets Wall Street Doubt

Meanwhile, on Fox Business this month, Tarbert addressed the stock’s 76% drop from about $260 to $62. He pointed to Circle’s Arc blockchain build-out and the firm’s focus on building the infrastructure for a “full-stack internet platform.”

“Circle is playing a long game… in the long run, the stock is going to take care of itself,” he said.

Still, Wall Street is less patient. Mizuho cut CRCL to Underperform this month. It lowered its price target to $50 from $85, about 21% below recent levels.

Analyst Dan Dolev flagged Open USD as the main threat. The rival launched June 30 with backing from more than 140 firms, including Visa and Mastercard.

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Source: BeInCrypto