5 hours ago
The GENIUS Act is seen arsenic a large triumph for stablecoin issuers similar Circle and the crypto manufacture astatine large.
Jun 18, 2025, 6:39 a.m.
Cathie Wood’s Ark Invest sold a combined 300,108 shares of Circle Internet Group connected Tuesday crossed 3 of its ETFs, continuing to instrumentality nett for a 2nd time successful a row, this clip to the tune of $44.7 million.
The determination came arsenic CRCL closed successful New York Tuesday astatine $149.15 arsenic it continues to support capitalist momentum aft a monster rally during its archetypal days of trading earlier this month.
ARK's trimming of its CRCL presumption coincided with a large argumentation milestone: the U.S. Senate’s bipartisan transition of the GENIUS Act, a measure designed to modulate stablecoin issuers similar Circle.
The Act is considered an manufacture win, and was welcomed by Circle CEO Jeremy Allaire, who called it a "genius" portion of authorities successful an X post.
An capitalist announcement indicates that arsenic ARK sold CRCL, it accrued its positions successful spot decorator AMD, which has been described arsenic an undervalued AI play pursuing the merchandise of its caller roadmap, arsenic good arsenic Taiwan Semiconductor, a spot manufacturing company.
Read more: ARK Invest Offloads Over $50M successful Circle Shares arsenic Stock Extends Rally
Sam Reynolds
Sam Reynolds is simply a elder newsman based successful Asia. Sam was portion of the CoinDesk squad that won the 2023 Gerald Loeb grant successful the breaking quality class for sum of FTX's collapse. Prior to CoinDesk, helium was a newsman with Blockworks and a semiconductor expert with IDC.
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