ARK Invest Sells Millions in Circle Right When Congress Pretends to Understand Crypto 😏

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What unfolds as the wheels of fortune turn:

  • With a flick of Wall Street’s indifferent wrist, Ark Invest cast away 300,108 shares of Circle Internet Group, a sum so large that even the audacious Rodion Raskolnikov might pause. $44.7 million vanished from their clutch, scattered amongst three ETFs like seeds before an uncertain winter.
  • The sale’s timing—oh, what harmony!—coincided with the august U.S. Senate’s passage of the GENIUS Act, a mechanism as grandly named as it is ambiguously effective, promising order where chaos once was, as if Duma deputies had stumbled into enlightenment by mistake.
  • With Circle’s fate tossed to the winds, Ark planted its remaining rubles—not so recklessly, mind you—into AMD and that mighty titan Taiwan Semiconductor, hopeful that the silicon fields would yield sweeter fruit than the crypto orchards.

On an ordinary Tuesday, as the streets of New York pulsed with the ambition and restlessness of modern commerce, Cathie Wood’s Ark Invest continued its patient, almost Tolstoyan retreat from Circle shares. Not with guns or with sabers, but with calmly signed trade orders and weary sighs, they let go of 300,108 shares—yes, a sum that might have built landlords many an estate, or bought several dozen fine troikas for any Russian noble who fancied a swift escape from his debts.

The price? $149.15 per share—the sort of number that would make even Pierre Bezukhov blink, all set against the backdrop of Circle’s early rally. There is a certain pathos here, as shares rise and fall, as if each ticker symbol conceals the aspirations and despairs of a thousand tiny souls.

Yet, just as the villagers gossip by the stove, the story swells: The U.S. Senate—feverish, self-important—approved the GENIUS Act. Its aim? To domesticate the unruly stablecoin herds, to regulate that which resists regulation, much like instructing Count Vronsky in the virtues of monogamy. Jeremy Allaire, Circle’s chief, declared the bill “genius” on X, perhaps hoping flattery might further bend the course of fate, or, at the very least, the share price.

But fortune, whimsical as ever, saw Ark Invest looking beyond the fields of crypto. Investor notices revealed a tightening of Circle’s belt, a letting-go, and a doubling-down on silicon and circuitry: AMD—the “undervalued AI play,” some said, as if value were anything more than a polite fiction—and Taiwan Semiconductor, its forges glowing day and night, forging the petals of tomorrow’s roses in the grim forges of industry.

And so, the tale creaks forward, rich with irony: as regulators don new laurels and call themselves “genius,” investors, wise as peasants, shift their fortunes elsewhere. History repeats—profit, loss, regulation—while clever people find fresh ways to pretend control over forces as old and stormy as the Russian countryside. 😏💸📉

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2025-06-18 10:01