“Coming Roughly Two MONHS After the Company’s Blazing Stock Market Debut, Insiders Are Accounting for 8 Million of the 10 Million Shares Being Sold.”, – WRITE: www.coindesk.com
The Company Offering 2 Million of Class A Common Stock for Sale, While Selling Stockholders Are Unloading Another 8 Million, Accounting To An S-1 Filing with The Us Securities and Exchange Commission (Sec). The Underwriter Greeenshoe Option is for Another 1.5 Million Shares.
Circle’s Stock Declined 6% in After Hours Trading to $ 154. That’s Down Nearly 50% from the Record High of $ 299, But Still Up About Five-Fold From The IPO Price of $ 31.
The Offering Comes Roughly Two MONHS AFTER CIRCLE’S DEBUT on the New York Stock Exchange, WHICH SAW ITS STOCK PRICE SKYROCKET AMID INVESTOR APETITE TO GAIN Exposure to the Booming StableCoco.
Earlier on Tuesday, The Firm Reported $ 428 Million Loss for the Second Quarter of the Year.
Read More: Circle Unveils Layer-1 Blockchain Arc, Reports $ 428 Million Q2 Loss
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The Fund Placements, Managed by Coinbase’s Asset Management Arm, Begin on Aave, Morpho, Kamino and Jupiter, With Broader Rolllouts Planned.
- Coinbase Is Reviving ITS STABLECOIN Bootstrap Fund, First Launched in 2019, to Bolster Stablecoin Liquidity on Decentralized Finance (Defi) Protocols.
- The Program First Allocated Funds in USDC and EURC STABLECOins on Platforms Like Aave, Morpho, Kamino and Jupiter.
- The Defi Sector Is Rapidly Growing, But Market Size is Still Below The 2021 Peak.
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