<\/p>\n
The tech-focused investment firm ARK Invest is dumping its massive trove of Circle (CRCL) shares as the stock goes through a big upside burst.<\/p>\n
Data from Cathiesark.com<\/a>, which tracks the investment firm\u2019s equity holdings and trades, shows that ARK Invest offloaded $238.2 million worth of CRCL between June 16th and June 20th.<\/p>\n On June 20th alone, ARK Invest sold $111.6 million in the stablecoin issuer\u2019s shares just as CRCL\u2019s price erupted by more than 20% in just one day.<\/p>\n The issuer of the second-largest dollar-pegged stablecoin\u00a0USDC<\/a>\u00a0and the euro-pegged Euro Coin (EURC<\/a>) made<\/a> its debut on the New York Stock Exchange (NYSE) on June 5th, four years after the firm initially announced plans to go public. On its first trading day, CRCL ripped from its debut price of $69 to $103 before giving up gains and closing at $83.<\/p>\n Since then, CRCL has been in a strong uptrend, soaring to its current all-time high of $248 last week after the US Senate voted<\/a> 68-30 with bipartisan support in favor of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act<\/a>), which would establish a framework for stablecoin issuers.<\/p>\n The bill aims to require stablecoin issuers with a $50 billion market capitalization to have full asset backing, monthly reserve disclosures and yearly audits.<\/p>\n As of Friday\u2019s close, CRCL is worth $240.28 per share.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The tech-focused investment firm ARK Invest is dumping its massive trove of Circle (CRCL) shares as the stock goes through a big upside burst. Data from Cathiesark.com, which tracks the investment firm\u2019s equity holdings and trades, shows that ARK Invest offloaded $238.2 million worth of CRCL between June 16th and June 20th. On June 20th […]<\/p>\n","protected":false},"author":2,"featured_media":396120,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-396119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/396119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=396119"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/396119\/revisions"}],"predecessor-version":[{"id":396121,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/396119\/revisions\/396121"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/396120"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=396119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=396119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=396119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
Check Price Action<\/a><\/span><\/em>
\n
Surf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n
\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n