The IPO of Circle has resulted in significant criticism for leading early employees to miss out on 3 billion USD in unrealized profits. This 3 billion USD loss stems from insiders selling shares at 31 USD, which have since soared to 240 USD.
Billionaire investor Chamath Palihapitiya has criticized the decision to pursue a traditional IPO, calling it a costly mistake. Alternative methods like SPACs could have potentially preserved value for the company’s insiders.
Leave a Reply