Circle Co-Founder Sean Neville Steps Down as Co-CEO – CoinDesk

CoinDesk

Sean Neville, Circle’s co-CEO, will be stepping down from his role at the end of the month.

Neville, who co-founded the Boston-based payments firm in 2014 with Jeremy Allaire, said in an email obtained by CoinDesk that he notified the company’s Board of Directors during a quarterly meeting. While he will transition out of his role as co-CEO, he will remain on the board as an independent director.

While Neville did not explicitly give a reason for his departure, he said in his email that the company’s recent sale of the Poloniex crypto exchange was one of several factors that made “the time appropriate for me to transition.”

As part of Circle’s board, Neville expects to continue working with CENTRE, the collaboration between Circle and Coinbase which is nominally the issuer of the USDC stablecoin. 

Binance Banner  

“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,” he wrote. “As always, I remain stubbornly optimistic about our ability to devise and execute well-crafted things that improve our collective future.”

However, first Neville intends to take a sabbatical, though he did not provide a timeframe. 

Circle was founded as a peer-to-peer payments firm, and became the first company to receive a BitLicense from the New York Department of Financial Services in 2015.

The company acquired Poloniex in February 2018 for roughly $400 million. However, the company sold the exchange less than two years later to a group of investors which include Tron’s Justin Sun.Prior to the sale, Poloniex was experiencing headwinds, announcing in recent months that it would geofence certain digital assets away from U.S. consumers. Under its new ownership, the exchange does not intend to serve U.S. customers at all.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Coinbase Banner  

Go to Source
Author: Nikhilesh De


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.