#CircleIPO

This is to inform you that

In its updated IPO prospectus on Tuesday, Circle indicated that most of the shares being sold in the offering are coming from existing stakeholders rather than the company.

Circle co-founders Jeremy Allaire and Sean Neville have said they're selling shares in the stablecoin issuer's offering, alongside other directors and venture investors.

It's highly unusual for more than half of the offering to come from investors, though Facebook used that model in its 2012 IPO.