ARK Invest, the crypto-friendly asset management firm founded by Cathie Wood, has offloaded 342,658 Circle (CRCL) shares worth $51.7 million across three of its funds. This sale represents the first divestment since Circle began trading on the NYSE on June 5. Circle was one of ARK’s top holdings, with a weight of up to 6.7% in some funds. The quick profit-taking highlights ARK’s active portfolio management strategy amid volatile crypto markets.
about ARK Invest Sells $51.7M in Circle Shares Post-DebutNYSE
0 in Finance and 0 in Crypto last weekPeter Thiel-Backed Crypto Exchange Files for IPO
Bullish, a cryptocurrency exchange supported by Peter Thiel, has reportedly filed confidentially for a U.S. IPO with the SEC, aiming to go public despite a failed SPAC attempt in 2021. The filing allows the company to avoid immediate financial disclosure, with Jefferies acting as the lead underwriter. This development follows Circle’s successful IPO, which saw its stock surge by 168.48% on its first trading day. The renewed push for a public listing reflects growing investor interest in crypto assets, bolstered by favorable U.S. policies.
about Peter Thiel-Backed Crypto Exchange Files for IPOGameStop Stocks Drop After $1.75B Bitcoin Purchase Proposal
GameStop (GME) shares fell sharply after the company proposed a $1.75 billion private offering of convertible senior notes, potentially to buy more Bitcoin. The announcement follows GameStop’s recent acquisition of 4,710 BTC ($505 million), positioning it as a Bitcoin treasury holder. However, the market reacted negatively, with GME dropping 21% to $22.49. While the funds are earmarked for general corporate purposes, including acquisitions, speculation suggests further crypto investments. The offering targets institutional buyers under Rule 144A, with an option for an additional $250 million in notes. The move highlights GameStop’s evolving strategy amid volatile meme stock and crypto markets.
about GameStop Stocks Drop After $1.75B Bitcoin Purchase ProposalBullish Files SEC Paperwork for IPO After Failed SPAC Deal
Bullish, a blockchain-based crypto exchange, has submitted confidential IPO paperwork to the SEC, marking its second attempt to go public after a failed $9 billion SPAC merger with Far Peak in 2021. The move comes amid renewed market optimism following Circle’s successful NYSE debut, which raised over $1.1 billion. Bullish, which acquired CoinDesk in 2023 and is led by former NYSE Group president Tom Farley, aims to capitalize on favorable crypto policies and Bitcoin’s stabilized price above $110,000. The filing follows Gemini’s recent IPO announcement, signaling growing Wall Street interest in crypto firms.
about Bullish Files SEC Paperwork for IPO After Failed SPAC DealBitcoin Surges Past $108K Amid US-China Trade Talks
Bitcoin (BTC) experienced a notable spike, surpassing $108,000 amid optimism surrounding US-China trade talks. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng are leading negotiations to address trade tensions, which previously caused Bitcoin to drop to a yearly low of $75,000. The recent surge also aligns with increased crypto IPO activity, including Circle’s NYSE debut and Gemini’s filing. Analysts suggest institutional interest could sustain Bitcoin’s bullish trend through 2025. BTC currently trades at $108,670, up 6% monthly and just 2.7% below its May all-time high of $111,800.
about Bitcoin Surges Past $108K Amid US-China Trade TalksCircle’s CRCL Stock Surges 22% Amid Institutional Demand
Circle’s CRCL stock has seen a sharp 22% rise in pre-market trading after its NYSE listing, reaching above $130 before settling at $123 at open. The IPO, one of the most successful fintech offerings in recent years, underscores institutional appetite for blockchain firms. Major backers like SBI Holdings and ARK Investment Management are betting on USDC’s growth, though some in the crypto community criticize the lack of direct rewards for on-chain users. Despite mixed reactions, Circle’s success signals broader market recognition of stablecoins’ role in mainstream crypto adoption.
about Circle's CRCL Stock Surges 22% Amid Institutional DemandUber Eyes Stablecoins to Cut Global Payment Costs
Uber is studying the potential of stablecoins to optimize cross-border payments, CEO Dara Khosrowshahi announced at the Bloomberg Tech Summit. He highlighted stablecoins’ practical benefits over speculative crypto assets, particularly for global businesses facing high money transfer fees. The news follows stablecoin issuer Circle’s NYSE debut, signaling growing institutional interest in crypto-based financial solutions. While Uber remains in the research phase, Khosrowshahi emphasized stablecoins’ promise for reducing operational costs in international markets.
about Uber Eyes Stablecoins to Cut Global Payment CostsTether CEO Dismisses IPO Plans Amid $515B Valuation Speculation
Tether CEO Paolo Ardoino has downplayed the idea of an IPO, stating the company has ‘no need to go public,’ even as speculation suggests a potential $515 billion valuation—placing it among the world’s top 20 companies. The comments follow Circle’s successful NYSE debut, where its shares soared 167%. Ardoino also highlighted Tether’s growing Bitcoin and gold reserves, suggesting the valuation might be ‘a bit bearish.’ The speculation originated from Artemis CEO Jon Ma, who compared Tether’s hypothetical market cap to giants like Costco and Coca-Cola.
about Tether CEO Dismisses IPO Plans Amid $515B Valuation SpeculationSenator Hawley Opposes GENIUS Act, Citing Big Tech Concerns
Republican Senator Josh Hawley is opposing the GENIUS Act, a White House-endorsed stablecoin bill, calling it a ‘giveaway to Big Tech’ that lacks proper oversight. The bill, which stands for ‘Guiding and Establishing National Innovation for US Stablecoins,’ aims to regulate the $250 billion stablecoin market but could disrupt the credit card industry. Meanwhile, Circle, the issuer of USDC, launched its IPO on the NYSE under the ticker CRCL, with shares surging 168% from their IPO price. Hawley is pushing for amendments to limit Big Tech’s role in stablecoin issuance.
about Senator Hawley Opposes GENIUS Act, Citing Big Tech ConcernsArca Dumps Circle Shares After IPO Dispute
Arca, a digital investment firm, has severed ties with Circle by selling all its shares after a contentious IPO allocation dispute. Jeff Dorman, Arca’s CIO, revealed the decision following Circle’s NYSE listing, citing dissatisfaction with the $135,000 allocation received despite a $10 million bid. Dorman had publicly criticized Circle in a now-deleted open letter, accusing the stablecoin company of undervaluing Arca’s early support. The fallout highlights tensions between crypto-native investors and traditional financial maneuvers as Circle transitions to public markets.
about Arca Dumps Circle Shares After IPO DisputeGemini Files Confidential IPO Draft as Circle’s Shares Soar
Gemini, the crypto exchange founded by the Winklevoss twins, has submitted a confidential draft registration for an IPO with the SEC. The filing comes amid favorable market conditions, with Circle’s recent NYSE debut serving as a catalyst. Circle’s shares (CRCL) skyrocketed after listing, hitting an all-time high of $123.52, signaling strong investor demand for crypto-related stocks. Analysts suggest that Circle’s performance could encourage more crypto firms, including Kraken, to pursue public listings. Gemini’s IPO timing reflects a strategic move to capitalize on the current equity market enthusiasm for digital asset companies.
about Gemini Files Confidential IPO Draft as Circle's Shares SoarCircle’s Stock Soars 168% on NYSE Debut as Stablecoin Giant Goes Public
Circle, the company behind the second-largest stablecoin USDC, went public on the NYSE under the ticker CRCL, with shares skyrocketing 168% from its $31 IPO price to close at $83.23 on its first trading day. Originally targeting a $28 IPO price, the firm’s valuation surged as investor interest flooded in, with BlackRock reportedly seeking a 10% stake. Circle CEO emphasized their vision of building ‘the money layer of the internet’ through products like USDC, EURC, and their payments network. The stock’s volatile debut reflects growing institutional interest in crypto-adjacent financial infrastructure, though analysts caution about establishing a stable price range post-IPO frenzy.
about Circle's Stock Soars 168% on NYSE Debut as Stablecoin Giant Goes Public