Circle CEO: The company is currently in good financial condition and does not need to seek funds, and is continuing to seek listing
On October 27th, Circle Internet Financial Ltd. CEO Jeremy Allaire stated in an interview that the company has long desired to go public and this vision has not changed. The company does not need to raise funds from the private market and continues to seek to go public.
Allaire said, "We are very committed to the path to going public and we can become a truly interesting company on the public market."
After the failed attempt to merge with blank check company Concord Acquisition Corp. in 2022, Circle's path to going public has been rocky. Earlier this year, Circle chose a more traditional route and secretly submitted an IPO registration draft to the US SEC in January.
For the nine and a half months since submitting the IPO registration draft, Allaire has refused to comment on the company's dealings with the SEC or other regulatory agencies. During this time, the US government has launched a massive crackdown on companies in the cryptocurrency industry. Although the process of waiting for IPO approval has been delayed for a long time, Allaire said the company does not need to raise more funds.
"Our financial situation is good, we can establish a very stable business, and we are not currently seeking any funding," Allaire said.
According to reports in June, the company has been strengthening its personnel configuration this year in preparation for going public. The recruitment boom has also been driven by optimistic sentiment related to regulatory oversight, namely that Washington lawmakers may ultimately provide some regulatory framework for the industry in the form of a stablecoin bill.
Congress Hill is reviewing several cryptocurrency-related bills, and Allaire said people are strongly optimistic that stablecoin legislation may even be passed during the lame-duck session after the November election.
He added that new regulatory measures will allow more traditional financial participants (including banks, asset management companies, and payment companies) to confidently enter the digital asset ecosystem, "they will only work with regulated infrastructure, and we are ready for this."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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