PANews reported on March 25th that, according to The Block, Ark Invest, led by Cathie Wood, purchased 161,513 shares of Circle stock through its ETF on March 24th, worth approximately $16.34 million based on the closing price of $101.17 that day. This move occurred amidst a 20% drop in Circle's stock price that day. Ark simultaneously sold 41,064 shares of Bullish stock, worth approximately $1.53 million.

Circle's stock price fell due to several negative factors: a draft version of the US Clarity Act leaked, potentially prohibiting the earning of returns solely from holding stablecoins, which Mizuho analysts believe will impact Circle's USDC business; on-chain investigator ZachXBT disclosed that Circle froze the USDC balances of 16 hot wallets associated with various enterprises, raising concerns about centralization risks; furthermore, competitor Tether announced its first full financial audit and the hiring of the Big Four accounting firms, potentially weakening Circle's advantage as a transparent and compliant alternative. Circle's stock price rebounded 1.5% in after-hours trading.