According to online reports, Jack Zhang, co-founder and CEO of corporate payment and financial platform Airwallex, wrote on Platform X: It's time to short Circle. Jack Zhang previously issued a document questioning the practicality of stablecoins in cross-border transactions of mainstream currencies, and also questioned the practicality of stablecoins in cross-border transactions of mainstream currencies. U.S. stock trading data showed that Circle's share price once rose to more than $210 this week, and hit a single-day increase of nearly 40%, with a market value of more than $48 billion.