Ark Invest Offloads $51M in Circle Shares Amid Soaring Valuation
Key Highlights:

* Ark Invest sold 342,658 Circle (CRCL) shares worth $51.7M on June 16.

* Circle stock surged nearly 400% post-IPO, reaching over $150 per share.

* Arthur Hayes warns of a potential stablecoin bubble fueled by hype.

Ark Invest, led by Cathie Wood, has trimmed its exposure to Circle Internet Group, the issuer of $USDC , following a meteoric post-IPO rally. The firm sold over $51 million worth of CRCL shares across three of its ETFs, citing valuation concerns as the stock climbed nearly 400% since its debut.

Circle’s Meteoric Rise

Circle’s IPO success has drawn massive investor interest, pushing its valuation to around $36 billion. The company’s dominant role in the stablecoin market—$USDC being the second-largest stablecoin—has fueled optimism, especially amid growing regulatory focus on digital dollar assets.

Skepticism from Industry Veterans

Despite the bullish momentum, some experts are sounding alarms. Arthur Hayes, CIO at Maelstrom, called Circle “grossly overvalued” and warned that the hype could trigger a wave of unstable copycat projects. He likened the current excitement to the prelude of the TerraUSD collapse.

The stablecoin sector may be booming—but not everyone’s buying the narrative. 
#Circle #CirclelPO #TerraUSD