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Shareholders, including the CEO of Circle, plan to reduce their holdings by 8 million shares.
On August 13, according to a report by Bloomberg, the issuer of the stablecoin USDC, Circle Internet Group, and its shareholders plan to collectively sell 10 million shares of stock. According to documents submitted to the SEC, Circle will sell 2 million shares, while shareholders including co-founder and CEO Jeremy Allaire will sell 8 million shares. Based on Tuesday's Closing Price of $163.21, the total amount of this stock issuance is approximately $1.63 billion.