Payments Firm Circle Pauses Circle Research in Most Recent Cutback

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News

Crypto finance startup Circle announced that it is hitting the pause button on its Circle Research activities.

Deciding on a future direction

In a blog post on Sept. 24, the Circle team said the suspension came despite “significant progress” with its content offerings.

The team of the Goldman Sachs-backed crypto startup Circle explained:

“It’s time to evaluate our contribution and overall strategy. With that in mind, we’ve decided to pause Circle Research activity for the time being as we decide on a future direction for the program.”

Circle Research was launched on Oct. 9, 2018, with the intent to provide weekly cryptocurrency market research and insights to help traders make better-informed decisions.

The news follows the previously announced termination of Circle’s payment app Circle Pay, with support to cease on Sep. 30.

Circle sheds 10% of workforce

Cointelegraph reported in May that Circle CEO Jeremy Allaire had confirmed that executives had made the decision to lay off one in ten of Circle’s employees — approximately 30 people. The CEO put the blame on the U.S. regulatory climate, saying:

“We made these changes in response to new market conditions, most importantly, an increasingly restrictive regulatory climate in the United States.”

Original Article – CoinTelegraph.com