Finance
Citadel-Bound Marshall Wace Trader Seeks Slice of Crypto Jackpot
Circle Internet Financial Ltd. signage during the company's IPO on the floor of the New York Stock Exchange on June 5.
Photographer: Michael Nagle/BloombergFormer Marshall Wace trader Scott Arnold is seeking a cut from the hedge fund’s gains tied to an early investment in Circle Internet Group Inc., claiming he initiated the trade that’s now on track to becoming one of the firm’s most profitable wagers.
The London-based hedge fund started investing in the stablecoin issuer in 2021 and wagered $200 million years before its initial public offering on June 5, according to an investor document seen by Bloomberg News. Filings show that the firm accumulated more than 8.5 million shares, or 4% of the crypto company.