Circle Employees Lose $3 B in IPO Despite 700% Stock Surge

Circle Employees Lose $3 B in IPO Despite 700% Stock Surge

Circle (CRCL) stock witnessed a further 20% surge on Friday and has surged approximately 700% since its IPO earlier this month. Yet, billionaire investor Chamath Palihapitiya highlighted a stark irony: Circle’s employees absorbed nearly $3 billion in losses due to the company’s choice of a conventional IPO over a SPAC merger. The traditional route compelled employees to liquidate 14.4 million shares as part of the listing process, creating sign...

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