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ARK Invest Buys $18 Million in Circle Shares on July 1 Amid CRCL Price Slide

GateNews
USDC0.01%

According to TheStreet, ARK Invest bought 287,609 shares of Circle Internet Group (CRCL) worth approximately $18 million on July 1. The purchase came as Circle shares fell nearly 15% in two days, dropping from $72.25 on June 30 to $61.95 on July 1, after over 140 companies including BlackRock, Coinbase, Visa, and Mastercard announced support for a competing stablecoin called Open USD.

CRCL stock rebounded more than 10% on July 2 following Standard Chartered's announcement of integrated access to Circle's USDC minting and redemption for institutional clients.

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In-Depth Analysis

CRCL drops over 40% in a month: As stablecoins enter the "open alliance era", how does Circle defend USDC's moat?

Gate Instant Trends14h ago
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