সার্কল আইপিওর গোপ্তমেম

বিক্রয়ের নীচের শান্তি

আমি সার্কলের IPOকেউৎসবহীনভাবে—একটি 정밀ভাবে-প্রকৃপনা-জনতা-বিষয়গত液化�টওয় as a liquidity event। \(210-এরওপার, \)1.2B-এখনও unrealized gains-এখনও vanished।

IDG: A Strategic Hold

IDG Capital 2.3M shares \(29.30-তে sell करल—\)68M net—কিন্তু 20.9M shares (10.4%) hold करল। This was not panic—it was Basel III logic: cost lock, exposure reduce, largest external holder remain।

ARK & General Catalyst: Tactical Reductions

ARK Invest 1.67M shares (\(350M) sell कরল—কিন্তু three ETFs-এ CRCL core keep कরল। General Catalyst \)104M sell کرল—$429M hold کرল—it’s not divestment—it’s active positioning।

CEO Jeremy Allaire: Control Through Conversion

Allaire equity sell didn’t do—he A-shares to B-shares convert کরल (same value, double voting power), then converted block’s part sell کرল—$46M cash out while stock options through control retain।

CPO Nikhil Chandhok & CFO Fox-Geen: Small Moves, Big Signals

Chandhok 758K shares (\(22.7M) move कরল—606K keep کرল >\)130M value with। Fox-Geen small blocks ($585K) sell कরল—options hoard کرल—an insurance against volatility।

Truth? No one fled—they restructured exposure for long-term optionality amid short-term windfalls। This isn’t greed—it’s rational capital management。