by: xpoolPosted on:

Circle’s Successful IPO Sparks Tensions with Early Backer Arca

Circle, the issuer of the USDC stablecoin, saw its stock debut on the New York Stock Exchange (NYSE) on June 5th, marking a significant milestone in the digital asset space. The company soared over 160% during its first day of trading, raising eyebrows and sparking debate among investors. Notably, long-time backer Arca, led by Jeff Dorman, voiced criticism over the IPO allocation, alleging that Circle gave them an insufficient portion compared to other institutional players.

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