Cathie Wood's Ark Invest Buys $30 Million in Circle Shares Ahead of Potential Arc Token

Ark Invest, led by Cathie Wood, invested approximately $30 million in shares of stablecoin issuer Circle (CRCL). This purchase included 353,328 shares across three of its ETFs, raising its total holdings to nearly 3 million shares valued at around $255 million. The investment comes as Circle's stock price has plummeted nearly 38% over the past month, falling to levels not seen since its IPO. Despite a strong earnings report in Q3, where Circle achieved $740 million in revenue, the stock faced significant volatility. The firm is also preparing to launch its Arc blockchain network and a potential native token, contributing to its strategic direction. This recent move follows Ark's acquisition of BitMine Immersion Technologies shares amidst a general decline in cryptocurrency equities.

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