Circle

Circle, the issuer of the USDC stablecoin, has laid off approximately 50 employees, representing less than 6% of its workforce, following a regular operational review. The company, which reported having 882 employees in June 2024, stated the cuts are part of an effort to adjust investments and expenses, marginally reducing spend in some areas while growing others. This move in the cryptocurrency and financial technology industry comes as Circle, a significant player with a market-leading stablecoin, continues to navigate its business strategy, having filed for an initial public offering earlier in the year.

Circle on 2023-07-12.