Circle Pushes Forward Amidst Regulatory Challenges
Circle, the crypto payments tech company, remains steadfast in its pursuit of going public despite the recent SEC action taken against Coinbase, a publicly traded company. This regulatory setback has not deterred Circle from their ambitions of entering the public market.
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In 2021, Circle had revealed plans to become a publicly traded company through a merger with a special purpose acquisition company (SPAC). However, CEO Jeremy Allaire disclosed in a tweet in December 2022 that Circle had not completed the SEC qualification process in time. Despite this setback, Circle has not wavered in its commitment to going public.
Earlier this year, Circle executives reiterated their intention to pursue a public listing, reaffirming the company’s long-term strategy. A Circle spokesperson emphasized that although they were unable to provide a specific deadline for the decision, they would take necessary steps to move forward with the IPO process as soon as possible. This determination is further underscored by a recent job posting for a corporate counsel role at Circle, which explicitly references the company’s plans for going public.
The selected candidate for the corporate counsel position will play a crucial role in assisting with the potential SEC process associated with going public. Additionally, they will be responsible for supporting the development of public company policies, practices, and processes. This hiring move highlights Circle’s dedication to preparing itself for the regulatory requirements and compliance measures that come with being a publicly traded entity.
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