RATE Group | Cryptocurrency payments firm Circle suspends Circle Research
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Cryptocurrency payments firm Circle suspends Circle Research

25 Sep Cryptocurrency payments firm Circle suspends Circle Research

Posted at 08:51h in Cryptocurrency News by

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The peer-to-peer cryptocurrency payments firm Circle has decided to hit the pause button on its research entity, Circle Research.

Founded in 2013, with an aim to replace the world’s financial systems with open cryptocurrency technologies and build an ecosystem of traders, investors, individuals, and organizations, Circle received substantial participation in its attempt to revolutionize the global economy.

A wave of departures in the cryptocurrency payments firm

However, lately, the firm has been experiencing what is being considered as a “rough patch.” It was in May when the CEO Jeremy Allaire announced its first significant cutback, reducing one in ten of the company’s workforce.

The CEO further went on to hold the hostile regulatory environment for cryptocurrencies in the US responsible for the decision to reduce thirty of its employees. In his statement, he states that it is not only unfavorable market conditions but also unfriendly cryptocurrency regulations in the US that…

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