TechFlame reports that while investors are still scrambling to buy this week's hottest cryptocurrency company IPOs, executives at stablecoin issuer Circle (CRCL.N) have begun to urgently reap the company's astonishing rise since its listing. Circle announced on Tuesday that it would sell 10 million shares at current market prices (2 million from the company and the rest from shareholders including CEO Jeremy Alair) to cash out approximately $1.4 billion. According to people familiar with the matter, the two-day placement has already been oversubscribed, and pricing is expected to be completed on Thursday local time. The company's stock price, which went public in early June, has soared 349% so far, and it also handed over impressive quarterly earnings reports earlier this week. The sale came much earlier than expected — just two months after Circle's listing, far from the end of the lockdown period at the end of the year. However, J.P. Morgan Chase, the lead underwriter of the IPO and the party that decided on the exemption from the lockdown period, did not block this sell-off. Joseph Schuster, founder of the Chicago IPO research institute IPOX, said, “This is a reasonable act of arbitrage, and the risk is passed on to the open market.”