Reported 2 days ago
Cathie Wood's ARK Invest has sold over $96 million worth of Circle shares following a significant price drop after the stock's debut. The firm offloaded 642,766 shares from its ETFs, amounting to nearly 14% of its original stake, just days after initially backing the stablecoin issuer. This sell-off comes amidst market volatility and has raised concerns within both crypto and traditional finance circles, despite positive regulatory developments for stablecoins.
Source: YAHOO