Ark Invest Buys $16.3M Circle Shares in 20% Drop

Ark Invest, the innovation-focused firm led by Cathie Wood, purchased more than 161,000 shares of Circle Internet Financial on March 24, 2026, acquiring about $16.3 million worth of the stock at a closing price of $101.17. The move came as Circle's shares fell 20 percent that day, amid fresh concerns over regulatory pressures and competitive challenges facing the company's USDC stablecoin business.

Circle, based in Boston and a key player in digital finance, issues USD Coin, the world's second-largest stablecoin by market capitalization. Each USDC token is backed by cash and short-term U.S. Treasury bonds held in regulated accounts, emphasizing transparency and compliance. The stock's sharp decline followed several developments. A draft version of the U.S. Clarity Act circulated among industry participants, proposing restrictions that could prohibit yield payments on stablecoin holdings, a feature debated in Washington for months. Analysts at Mizuho linked the drop partly to potential negative effects on Circle's revenue model.

Adding to the pressure, blockchain investigator ZachXBT reported that Circle had frozen USDC balances in 16 hot wallets connected to businesses involved...