Circle Cuts 10% of Staff, Cites Restrictive Crypto Regulations
- Payment company bought Poloniex crypto exchange last year
- Startup is also part of the group behind USD Coin stable token
Jeremy Allaire, chairman and chief executive officer of Circle Internet Financial Ltd., speaks during the Economist's Finance Disrupted conference in New York.
Photographer: Michael Nagle/BloombergCircle Internet Financial Ltd., a closely held mobile-payments firm which acquired one of the largest cryptocurrency exchanges last year, is eliminating 30 positions, or 10% of its workforce, citing an increasingly restrictive regulatory environment for digital assets.
“Circle remains strong and healthy, and we will continue to drive new product innovation and growth globally, working with jurisdictions that offer forward-looking policies regulating digital asset businesses, while we press for more balanced crypto policy in the U.S.,” Jeremy Allaire, the startup’s co-founder and chief executive officer, wrote in a tweet.