Ark Invest has a tendency to "buy the dip," loading up on shares in cryptocurrency companies when their prices are depressed.

• Ark Invest loaded up on shares in cryptocurrency companies as they slid during June.
• The firm bought $44 million worth of shares in Coinbase, $25 million of Circle Internet and $8.2 million of Bullish.
• Circle shares slumped 40%, ending the month at $62.63. The decline included a 18% drop on June 30 following the debut of rival stablecoin Open USD.

Ark Invest has a tendency to load up on shares in cryptocurrency companies when their prices are depressed, and June was no exception.

The St. Petersburg, Florida-based investment manager bought $44 million worth of shares in crypto exchange Coinbase (COIN), based on the closing prices of the days on which purchases were made. It purchased $25.25 million worth of equity in Circle Internet (CRCL), issuer of the world's second-largest stablecoin USDC, and $8.2 million worth of crypto exchange Bullish (BLSH), the parent company of CoinDesk, according to emailed disclosures.

Shares of Circle slumped 40% in June, ending the month at $62.63. The decline included an 18% drop on June 30 following the debut of rival stablecoin Open USD, which is backed by more than 140 companies, including Coinbase, Stripe, Visa, Mastercard and BlackRock.

COIN ended June just under 20% lower at $146.19, while BLSH fell 27% to $23.43.

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.