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Circle’s decision to hold $3.3 billion with Silicon Valley Bank was a classic disruptor move—Circle was focused on growth, and with banks closing their doors to crypto companies, it went with ...
The company has received over US$135 million in venture capital from 4 rounds of investments from 2013 to 2016, including US$50 million led by Goldman Sachs. [4] [5] [6] In April 2015 The New York Times reporter Nathaniel Popper wrote that the Goldman Sachs investment "should help solidify Bitcoin’s reputation as a technology that serious financial firms can work with."
Funding Circle reported its first financial accounts as a public company in 2019. These accounts revealed a 55% increase in year on year revenues and an increase in pre-tax losses from £36.3m to £50.7m; the increase in pre-tax losses were driven by the company spending more on marketing and staff. [18]
This time, the company is doing a conventional IPO but is availing itself of an option to keep the details confidential, meaning we don't know what valuation Circle is seeking, or much else ...
In August 2023, Circle and Coinbase dissolved the Centre Consortium, the entity responsible for managing USDC since 2018. This decision granted Circle full governance over USDC. [14] In February 2024, Circle discontinued USDC on the TRON blockchain in February 2024 following a risk management review. Although the minting of new USDC tokens ...
The company’s newest effort to go public comes a year after Circle scrapped plans to list shares via a special purpose acquisition company in a deal that would have valued Circle at $9 billion.
Accion is the fund's sponsor and anchor investor; the fund's manager, Quona Capital, is an early-growth-stage venture firm focused on financial technology for underserved consumers and businesses in emerging markets. [10] Investments include NeoGrowth, [11] Yoco, [12] Konfio, [13] and First Circle. [14]
As USDC remains trapped behind Tether, the question for Circle is what comes next. The company is still pulling in hefty profits, although with over 99% of its revenue coming from interest income ...