Circle CEO: The company's current financial situation is good and does not need to seek funds, and is continuing to seek listing

Jeremy Allaire, CEO of Circle Internet Financial Ltd., recently stated in an interview that the company has been eager to go public for many years and still has not changed this vision. The company does not need to raise funds from the private sale market, but is continuing to seek listing. Allaire said, "We are very committed to the path to listing, and we can be a truly interesting company in 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 full of obstacles. Earlier this year, Circle opted for a more traditional route and secretly submitted a draft registration for an IPO to the U.S. SEC in January. In the nine and a half months since submitting the IPO registration draft, Allaire has refused to comment on any contact between the company and the SEC or other regulatory agencies. During this period, 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 stated that the company does not need to raise more funds. “Our financial situation is good, and we are able to build a very solid business. We are currently not seeking any funding,” Allaire said. According to reports in June, the company has been strengthening its personnel configuration this year in anticipation of going public. The hiring frenzy is also driven by optimistic sentiment from regulators, namely Washington lawmakers who may ultimately provide some regulatory framework for the industry in the form of the Stable Coin Act. Congress Hill is currently reviewing several drafts of cryptocurrency-related bills, Allaire said, and there is strong optimism that stablecoin legislation may even be passed during the lame-duck session after the November elections. He added that the new regulatory measures will allow more TradFi participants, including banks, asset management companies, and payment companies, to enter the digital asset ecosystem with confidence. 'They will only cooperate with regulated infrastructure, and we are ready for this.' (Bloomberg)