Arca Chief Investment Officer Jeff Dorman said the firm received a “measly” $135,000 allocation of Circle’s IPO shares, despite placing a $10 million order to invest in its longstanding partner.
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Arca CIO Jeff Dorman slams 'measly' CRCL allocation from Circle's oversubscribed IPO
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Jeff Dorman, CIO of Arca, criticised Circle’s IPO allocation process, revealing that Arca received just 1.35% of its $10M investment request, calling the result a “measly” $135K slice and accusing Circle of favouring TradFi mutual funds and hedge funds over long-time crypto-native partners
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