‘Prop firms are hard to sell:’ Shares for crypto exchange Circle are being offered at a massive discount

Count this as a potential sign that the crypto bear market is putting pressures on some of the best-known companies in the market for digital currencies.

Private shares of Circle, the cryptocurrency exchange-operator, are being offered at a massive discount on SharesPost, a platform that allows accredited investors to exchange shares of private companies. At the time of its Series E fundraise in May, shares of Circle were worth $16.23 apiece at a valuation of $3.01 billion, but now shares are available to be purchased at just $3.80. To be sure, it is not clear how many shares are being offered at this new price, nor is it clear if any shares have exchanged on the platform at this price. This share price implies a $705M valuation.

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