Cryptocurrency startup Circle reportedly seeks $250mn

By Olivia Minnock
Circle, one of the world’s leading crypto startups, is reportedly seeking investment of up to $250mn. Sources have stated the firm, which has alread...

Circle, one of the world’s leading crypto startups, is reportedly seeking investment of up to $250mn.

Sources have stated the firm, which has already seen investment from the likes of Goldman Sachs, Baidu and Bitmain, is looking for further investment – while CEO Jeremy Allaire has not confirmed this, but stated the company is constantly seeking sources of capital.

Circle operates the Poloniex cryptocurrency exchange which it acquired for $400mn, as well as institutional trading branch Circle Trade.

SEE ALSO:

 

Following its latest funding round, which brought in $110mn, the company was valued at $3bn but this has reportedly seen a significant decrease. To date, the firm has raised a total of $246mn in capital.

Allaire, who co-founded the company, has said that its revenue grew between 2017 and 2018 despite overall decreases in cryptocurrency prices.

Circle markets itself as ‘people-centric’, stating that money has the power to connect people and aiming to afford customers the ability to “exchange just about anything of value”.

Share

Featured Articles

Bitcoin Reclaims US$1tn Valuation; the Bull Market is Here

Bitcoin, the world’s largest cryptocurrency, has hit the US$1tn valuation mark again after the cost of one Bitcoin jumped 22% to US$52,005

COMING SOON: Top 100 Women in FinTech 2024

This March in honour of International Women’s Day, FinTech Magazine will release its annual Top 100 Women supplement

FinTech LIVE Dubai: Linoy Kidd, CIO at HSBC

Linoy Kidd, CIO (Markets & Securities Services MENAT) at HSBC to speak at FinTech LIVE Dubai

NASDAQ: Banks Need Fintech Trust to Combat US$3tn in Fraud

Fraud & ID Verification

Wix’s Omer Shatzky to speak at FinTech LIVE Dubai

Digital Payments

Ramesh Narayanaswamy (CTO) to attend FinTech LIVE Singapore

Tech & AI