Circle, a Boston-based cryptocurrency finance company. announced that it has raised $440 million to “Drive Market Expansion and Market Growth” Investments are led by well-known financial firms such as Digital Currency Group, Fidelity Management and Research Company and FTX.
Circle Reveals $440 Million Financing
- Circle Internet Financial, Inc. has announced that it has received $440 million in funding from a number of strategic investors.
- Leading investors in Circle include Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, along with Michael J. Price and Friends.
- Circle has grown exponentially from Stablecoin usd coin (USDC) USDC is considered the “fastest growing cryptocurrency”. It is now $22 billion in circulation. USDC is growing 436% in 2021 alone and more than 28,000% over the past 12 months.”
- Circle co-founder and CEO Jeremy Allaire said Friday: “As a company, Circle remains committed to increasing global economic prosperity through the power of cryptocurrency, blockchain, and programmable advances in money.”
- “Sustainable global demand for our services is driving the growth of USDC as a reliable and well-regulated dollar digital currency. It signals that we are one step closer to accomplishing our mission,” Allaire added during the announcement.
- after the financing Two sources familiar with the matter told theblockcrypto.com’s Frank Chaparro. that the company is considering a Special Purpose Vehicle Acquisition Agreement (SPAC).
- The FTX Exchange has a lot of movement in the crypto industry and FTX has also participated in Circle’s $440 million funding round. “Circle is a player with nearly eight years of experience working on fiat on blockchains. At FTX, we are excited to continue partnering with Circle to help extend these capabilities to all crypto users,” FTX CEO Sam Bankman. -Fried said on Friday
- In addition to its latest financing, Circle spoke on May 25, 2021 about “financial and operational transparency” about USDC turnover.
- Circle noted that “USDC in circulation is audited by independent accounting firms that can provide reasonable ongoing assurances that the assets held in reserve can rollover or exceed USDC at any time. 30 Documents certify this effect which Issued by Grant Thornton, one of the world’s leading accounting firms. Our commitment remains unchanged.”
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