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 rout...