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Circle’s Co-Founder Transitions from CEO Position

Some changes at the payments company Circle are happening right now as CEO Sean Neville changes position to the board of directiors.

According to the crypto media CoinDesk on the 5th of December, Sean Neville, the co-founder and co-CEO of the payments company Circle, is transitioning to the company’s board of directors in the beginning of 2020 in January.

The company Circle was launched in 2013 by Jeremy Allaire and its journey has been through a lot of changes, including moving away from Bitcoin and the acquisition of the crypto exchange Poloniex in 2018.

Currently the payments company is selling the exchange so Neville thinks that such events are the right time to do the transition of corporate roles.

He will continue his collaboration with the project Centre (between Circle and the crypto exchange Coinbase) behind the company’s native coin USD coin (USDC).

CoinDesk quotes Neville as it follows:

“I also expect to propel the mission forward through CENTRE and other new complementary paths that traverse worthwhile challenges in infrastructure, regulatory policy, economics, and product design.”

The former CEO to-be hasn’t confirmed the move yet and he hasn’t updated his status on LinkedIn for that matter.

The Poloniex sale originally acquired for 400 million dollars did not go so smoothly. U.S. traders will not be able to use the exchange anymore due to the recent changes. All users are warned that people who don’t withdraw their funds before the 16th of December might face some serious financial damage like confiscation of their account’s balance.

This November some former executives at Circle founded their crypto trading company called CMS Holdings under Daniel Matuszewski (head of over-the-counter trading arm)’s leadership.

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