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Arca CIO Jeff Dorman has slammed USD Coin (USDC) issuer Circle for giving the company a “measly” allocation during its initial public offering (IPO) yesterday, and vowed to cut all ties with the firm. “I cannot believe our efforts to help you grow for years culminated in you giving us a joke, throwaway allocation,” Dorman wrote in an open letter entitled “F*ck you!” to Circle shared in a now-deleted X post . That’s after Dorman said Arca placed an order to invest $10 million in Circle IPO shares months ago, but only received “a measly” $135,000 allocation, which is just 1.35% of the order.  Circle Accused Of Favoring TradFi Investors During IPO Dorman accused the stablecoin issuer of favoring traditional finance investors and institutions over Arca, who he claims has been a loyal backer of Circle over the years. “You decide to give fat allocations to TradFi mutual funds and hedge funds who likely didn’t even r...

In what was an interesting development for the massive retail company, one Walmart EVP has sold more than 2,000 shares in WMT. Indeed, executive Daniel J. Bartlett officially offloaded 2,065 of his holdings in the company on Tuesday, with an average price of $80.69. The total transactions were worth more than $166,600, with the executive vice president still owning 457,493 shares in the company. Earlier this week, Walmart had gained despite a dipping stock market. Now, all eyes are on the upcoming earnings report and what it could say. Source: Reuters / Andrew Kelly Also Read: 6 Best Stocks to Buy in October Walmart EVP Offloads 2,000 Shares as WMT Awaits Crucial Report There are few brands in the United States as well-known as Walmart. The mammoth retailer has become a fixture and is still one of the strongest companies within its field. Despite the emergence of tech stocks, Walmart (WMT) still remains in the top 15 largest companies by market cap. Yet, it has experienced declining va...

In a legal showdown that unfolded within the courtrooms of the Southern District of New York Bankruptcy Court on October 27, cryptocurrency exchange Gemini launched an adversary proceeding against the bankrupt crypto lender, Genesis Global Holdco. The battle revolves around the destiny of a substantial 62,086,586 shares of Grayscale Bitcoin Trust (GBTC), which were initially deployed as collateral to secure loans granted to Genesis through the Gemini Earn Program, supported by a staggering 232,000 Gemini users. As of the present day, the assessed worth of this collateral stands close to a staggering $1.6 billion. The lawsuit contends that Gemini successfully acquired $284.3 million by executing a foreclosure on this collateral, with the intention of distributing these funds for the benefit of the Earn users. However, Genesis has vehemently opposed these actions, effectively impeding Gemini from dispersing the accumulated proceeds. Genesis, in its defense, has proposed an alternative ...