Trading Division Head at Circle Quits Job - Coindoo
Circle resignation

Trading Division Head at Circle Quits Job

Editorial Team Avatar
Aug 3, 2019
2 min reading time

Leading crypto firm Circle has announced that its head of trading, Dan Matuszewski, has submitted his resignation and decided to leave the company.

Circle is one of the few platforms in the crypto industry which provide OTC trading for cryptocurrencies. It allows investors to capitalize on many opportunities, with Circle having a reported volume of $24 billion in 2018 juts from OTC trading.

“Circle Trade executed:

  • More than 10,000 OTC trades, with nearly
  • 600 distinct counterparties, across
  • 36 different crypto assets, and generated nearly
  • $24 billion in notional volume” –read its blog post.

While the resignation was surprising for most people, Circle has had 6 other employees leaving the company in the past 6 months. According to Matuszewski, he left the company in order to pursue a “brand new entrepreneurial opportunity in crypto.”

“I look forward to working with Circle in a professional capacity going forward from the other side of the trade,” wrote Matuszewski in his goodbye note.

Jeremy Allaire, the CEO of Circle, spoke last week in front of the US Senate regarding the US regulations imposed on crypto and blockchain and what course of actions should the government take considering there are so many assets.

Because the United States regulators have imposed such strict rules, Circle has decided to relocate its exchange offices to Bermuda in order to legally provide crypto services to clients that are no based in the US.

While the move to Bermuda will enable the company to provide its customers with new crypto services, many of those features would not be accessible to its US-based clients because of regulatory restrictions.

Featured Image:The Block

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