Dan Bin stated that he has already established a position in Circle, and CRCL rose over 16% intraday.

CoinFeed reported on May 5th that renowned investor Dan Bin, Chairman of Oriental Harbor Investment Management, posted on Weibo that he had allocated a portion of his portfolio to Circle Internet Group (CRCL.US) based on strong recommendations from analysts. CRCL saw a significant intraday surge today, rising over 16% at one point. Dan Bin believes one of the core catalysts for this rise is the impending key progress on the US Clarity Act. This act is considered an important legislative branch pushing for the implementation of a crypto regulatory framework, potentially helping to alleviate long-term regulatory uncertainty in the industry and opening up long-term growth opportunities for leading compliant stablecoins like Circle. Dan Bin believes that Circle's core business is entering a period of explosive growth, with its USDC circulating supply exceeding $79 billion, a record high.