According to reports from Wu, due to CRCL stock soaring nearly 250% since going public, Cathie Wood's ARK Invest has intensified its sell-off of Circle. On June 20, ARK sold 609,175 shares of Circle stock from its three funds, worth $146.2 million. The latest sell-off is the third by ARK in the past week, with a total of 1.25 million shares of CRCL stock sold, netting approximately $243 million.