Circle Falls After Company, Holders Offer 10 Million Shares

Shares of Circle Internet Group Inc. fell after the second-largest stablecoin issuer and a group of shareholders including co-founder and Chief Executive Officer Jeremy Allaire announced an offering to sell a combined 10 million shares.

Circle is offering 2 million shares while the selling shareholders are selling 8 million, according to a filing Tuesday with the US Securities and Exchange Commission. At the closing price on Tuesday of $163.21 each, the share sale would raise $1.63 billion.