Boston-Based Company Circle Prepares for Public Listing

According to Bloomberg, Circle, a Boston-based company, has been making strategic hires as it prepares to go public. The company had confidentially filed a draft registration statement with the US Securities and Exchange Commission in January. The new hires include Tamara Schulz, the Chief Accounting Officer, and Pierre Carras, the Business Development Director for Exchanges, who both joined the company in May. Sterling Barnett, the director of business development leading North American and European exchange partnerships, started in April. While the company's valuation is not yet clear, it was estimated to be worth $9 billion when it attempted to go public through a planned merger with Concord Acquisition Corp. in late 2022. However, this deal was eventually scrapped. The company's tokens in circulation saw a peak in mid-2022, but experienced a decline for much of the year following the failure of Silicon Valley Bank, where Circle had kept some of its reserves. The market value began to rise again late last year, increasing by nearly 36% to around $32 billion, as per data from CoinMarketCap.