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

Ark Invest, led by Cathie Wood, has purchased about $30 million worth of shares in Circle, the issuer of the USDC stablecoin. This acquisition brings the firm's total holdings of Circle shares to nearly 3 million, valued at over $255 million, despite a significant decline in share price—down approximately 38% over the past month. The investment comes after Circle reported better-than-expected Q3 results with $740 million in revenue, a 66% increase year-over-year. The firm also hinted at launching a native token for its stablecoin-focused Arc blockchain network. Wood's investment reflects her strategy of capitalizing on declining stock prices, having also previously invested in BitMine Immersion Technologies amid market volatility. This move highlights Ark Invest's continued commitment to the cryptocurrency sector and its interest in stablecoin developments amid broader market fluctuations.

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