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Circle Internet Financial, the issuer of the second-largest stablecoin USDC, has announced layoffs affecting 6% of its workforce, which translates to approximately 53 employees. The decision is part of a regular operational review aimed at enhancing efficiency. In addition to the layoffs, Circle is focusing on artificial intelligence initiatives and preparing for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). The company is also seeking private capital to support its growth strategy.
[THE INFORMATION] Stablecoin Issuer Circle Lays Off Less Than 6% of Staff
🆕🔔 Breakdowns for stablecoin senders & transfer volumes added. Category leader is a @coinbase-native company: Stablecoin issuers: @circle https://t.co/GChqry066j https://t.co/mH2vVuDavb
CIRCLE SLASHES JOBS, GOES HARD ON AI & IPO Circle’s cutting 6% of its crew—that’s 53 heads gone—while they double down on AI and global growth. They’re also gearing up to file an IPO with the SEC and hunting for private capital to fuel the next phase. But yo, they’re not… https://t.co/YOTco145eg
