<p>According to Foresight News, Arca's Chief Investment Officer Jeff Dorman tweeted that Arca has sold all its shares in Circle (CRCL). Previously, Arca criticized Circle's IPO allocation as too low and announced it would switch to USDT.</p><p>Earlier, Arca stated that as a long-term partner, it was only allocated 135 thousand USD worth of shares, far below its 10 million USD subscription application. Jeff Dorman said Circle "prioritizes traditional financial institutions" and shows "no respect" for crypto-native institutions, announcing the closure of Circle accounts and switching to alternative stablecoins like USDT.</p>

USDT

Foresight News reported that Arca's Chief Investment Officer Jeff Dorman tweeted that Arca has sold all of its Circle (CRCL) shares. Previously, Arca criticized the low allocation in Circle's IPO, stating that it will switch to USDT. Arca had previously stated that as a long-term partner, it only received an allocation of 135 thousand USD, far below its subscription request of 10 million USD. Jeff Dorman said that Circle "prioritizes traditional financial institutions" and "disrespects crypto-native institutions," and announced that it will close its Circle account and switch to alternative stablecoins like USDT.

Arca CIO: Arca has sold all its shares of Circle (CRCL)