However, this has led to a number of unscrupulous business models – for example, in the case of BitConnect which offered its own virtual currency to customers who could convince others to sign up to the platform (akin to a Ponzi scheme). Securities.io is not a registered broker, analyst, or investment advisor.The cryptocurrency market is famous for its current freedom from centralized regulation. You should be aware that you may lose a significant portion of your portfolio. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies. Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Between 74-89% of retail investor accounts lose money when trading CFDs. We may receive compensation when you click on links to products we reviewed.ĮSMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. To learn more about USD Coin, check out our Investing in USD Coin guide.Īdvertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. To date, several crypto companies, including Coinbase, Chainalysis and Gemini, have announced staff reductions. Fidelity, Fin Capital, and Marshall Wace also participated in the raise. The capital raise announced last April involved BlackRock, which it entered into strategic partnership with at the time. The focus on internal growth came on the back of an unsuccessful plan to go public via a special-purpose acquisition company (SPAC) merger whose deal timed out last December.Ĭircle, which is currently privately held, raised $400 million in a funding round which CEO Allaire said would be used to fund the next stage in Circle's growth roadmap. In February when many companies in the digital assets industry resolved to aggressive layoffs, Circle's Chief Financial Officer Jeremy Fox-Geen told the Wall Street Journal that the Boston-based firm planned to increase its total headcount by 15% to 25% by the end of the year. “Strong risk management is essential to Circle's efforts to make USDC the safest, most trusted and transparent digital dollar on the internet,” Circle founder Jeremy Allaire remarked on the addition. Broderick had a career spanning more than three decades with the global investment bank. The USDC issuer followed it up with the appointment of Craig Broderick, a former risk management executive at Goldman Sachs, to its Board of Directors. “At the same time, we have identified new areas for investment and are continuing to hire in key areas of focus on a global basis.”Įarlier in June, Circle hired the former US Commodities Futures Trading Commission head Heath Tarbert in the position of Chief Legal Officer. “To maintain our strong balance sheet, Circle has reduced or ended investments in non-core activities and reduced operational expenses, which includes a marginal reduction in headcount,” the company's spokesperson explained. Though the firm is reducing its headcount, it still intends to take on new hires in the areas it will redirect its resources and efforts towards.
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