The payments company Circle will soon appoint a new CEO for the start of the new year after one of the original co-founders decided to step down from the current position. According to the latest cryptocurrency news reports by big media outlets, the Circle CEO Sean Neville has been reappointed after a major reshuffle – and will transition to a post on the company’s board of directors in January 2020.
For those of you who don’t know, the (now-ex) Circle CEO Sean Neville launched the payments company along with Jeremy Allaire back in 2013 and has been here during the hardest years. He was there when the company pivoted away from Bitcoin (BTC) and when it acquired the cryptocurrency exchange Poloniex last year.
As the news show, Circle is now selling Poloniex and the ex Circle CEO Neville and his role is being switched with another person. He will continue his activities with Centre – which is the project between Circle and the cryptocurrency exchange Coinbase which produced the USD Coin (USDC) as the native stablecoin to the company. As he was quoted stating in an email to one crypto publication:
“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 now-ex Circle CEO Sean Neville has yet to confirm the move and right now has still not updated his personal information on resources such as LinkedIn in order to reflect any of the new changes.
Meanwhile, as Circle sold Poloniex which it originally acquired for $400 million, it has not gone without controversy. Part of the spin-out showed that US traders will be no longer able to use the platform at all.
What’s also interesting in these news is the update showing that last month, several former executives at Circle launched their own cryptocurrency trading form named CMS Holdings. The firm is headed by Daniel Matuszewski (the former head of Circle’s OTC division and trading arm) and a couple of other people.
We have reached out to Circle and the now-ex Circle CEO Sean Neville for a commented but have not received a response so far.
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