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Circle CEO Stepped Down From the Position Following Reshuffle

By Chris Torres | December 6, 2019

Global financial services firm Circle has reportedly appointed a new individual as the head of the company heading into 2020, to replace one of its co-founders who has decided to move on from the role. 

Specifically, Sean Neville – who helped found and run Circle – will embark on a new adventure, as he will be serving as a member of the board of directors of the firm, beginning January next year. 

Neville, together with his business associate Jeremy Allaire, have established Circle 6 years ago (2013), and have were the men behind numerous shift in strategy and business over the years, including a pivot away from Bitcoin (BTC), and the latest purchase of US-based crypto exchange platform Poloniex in 2018. 

With the departure of Poloniex from Circle to form a new platform, dedicated to facilitating transactions for non-US customers, Neville believed this will be the most suitable time to try out a new position. 

He will still be involved in managing the progress of Centre – a project introduced following the alliance between Circle and major crypto exchange firm Coinbase, in an effort to roll out its native stablecoin, USD Coin (USDC). 

“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.” Neville further remarked. 

Neville has not delivered his official statement regarding the shift, and has yet to make any changes to his professional LinkedIn profile. 

Previously, following the departure of Poloniex, all US clients using its services are required to remove funds from their accounts by December 16. Should clients violate the deadline, certain fees will be charged, which can reach up to the entire sum currently in the client’s account.

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