【Circle executives cash out at high positions, selling early as stock price soars 349%】 Golden Finance reported that Circle announced on Tuesday the sale of 10 million shares at the current market price (of which 2 million shares are from the company, and the rest from shareholders including CEO Jeremy Allaire), cashing out approximately $1.4 billion. According to informed sources, this two-day placement has been oversubscribed, and pricing is expected to be completed on Thursday local time. The company's stock price has soared 349% since its listing in early June, and it recently released impressive quarterly results earlier this week. This stock sale comes much earlier than expected—only two months after Circle's IPO, well before the end of the year lock-up period. However, JPMorgan, as the lead underwriter and the party deciding on lock-up waivers, did not stop this sale. Joseph Schuster, founder of Chicago-based IPO research firm IPOX, stated, 'This is a rational arbitrage behavior, with the risk thus transferred to the public market.' (Golden Ten)