Circle, one of the key institutions involved in the crypto ecosystem, has recently witnessed several changes transpiring in the company. It was announced that Circle’s head of trading, Dan Matuszewski, had formally resigned and parted ways with the company.
Circle is one of the few institutions apart from Coinbase and Binance that provides OTC trading for the virtual asset investors. It is a lucrative option for investors, and Circle had earlier reported that its OTC trades had garnered a substantial volume of $24 billion in 2018.
The resignation might hardly come as a surprise to the community as it was also reported that 6 other employees had parted ways with Circle over the past 6 months. Matuszewski cited that the reason behind his exit from the company was in to pursue a “brand new entrepreneurial opportunity in crypto.”
The previous week, Jeremy Allaire, CEO of Circle, testified in front of the US Senate to discuss the US regulations regarding crypto and blockchain and how the government should proceed with the plethora of virtual assets.
Due to the current strict regulations in the United States, Circle also had to move its exchange operations to Bermuda to facilitate its services to its non-US clients. The expansion to Bermuda is a positive development as the company plans to offer new crypto services to its users but a lot of those services would be unavailable to its US-based clients due to regulation limitations.
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