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☆ 'Very good chance' that U.S. passes stablecoin laws this year, Circle CEO says
▼ + stars: | 2024-01-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Justin Tallis | Afp | Getty ImagesThe CEO of Circle, the company behind popular stablecoin USD Coin, sees a strong chance that laws for stablecoin issuers like itself will come through in 2024. The U.S. is yet to pass federal crypto regulation, even as jurisdictions around the world are approving new crypto-focused laws. But Jeremy Allaire, Circle's boss and co-founder, hopes that things will change this year, stating that there is a "very good chance" U.S. lawmakers approve a stablecoin bill. "Stablecoins in particular remain the killer app for blockchain technology," Allaire told CNBC. "It's been a really powerful time for that and we think 2024, with things like the spot ETF and world regulatory clarity, is going to open this up even wider."

Persons: Justin Tallis, Jeremy Allaire, Circle's, Allaire, Crypto, Dante Disparte, Disparte, CNBC's MacKenzie Sigalos Organizations: Afp, Getty, CNBC, Economic, Treasury, Federal, House Financial, U.S . Securities, Exchange Commission, SEC, Allaire Locations: London, U.S, Davos, Switzerland, United States

☆ Good chance U.S. approves stablecoin laws this year, Circle CEO says
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGood chance U.S. approves stablecoin laws this year, Circle CEO saysCircle CEO Jeremy Allaire discusses the crypto company's confidential filing for an IPO, and the prospect for U.S. stablecoin laws in 2024.

Persons: Jeremy Allaire

☆ Clear rules for stablecoins will allow the sector to flourish: Circle
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are clear rules for stablecoins which will allow the sector to flourish: Circle CEOJeremy Allaire, CEO of Circle, says within the sphere of digital assets, people want private sector innovation and that the regulation of stablecoins is the current priority.

Persons: Jeremy Allaire

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ Critical to have better supervised crypto companies, says Circle CEO
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCritical to have better supervised crypto companies, says Circle CEOCrypto firm Circle CEO Jeremy Allaire said one of the most important lessons from the failure of crypto companies like FTX is that there's a need to have guardrails for crypto such as regulation, risk management and accounting standards.

Persons: Jeremy Allaire

NEW YORK, June 8 (Reuters) - Cryptocurrency operator Circle Internet Financial said on Thursday it has hired Heath Tarbert, former chair of the Commodity Futures Trading Commission, as the its chief legal officer and head of corporate affairs, effective July 1. Tarbert, a former corporate attorney and senior Treasury Department official, more recently worked for electronic trading firm Citadel Securities. Boston-based Circle, the issuer of stablecoin USDC, in December decided to end a $9 billion deal to merge with blank-check firm Concord Acquisition Corp . "As we continue building a bridge between traditional finance and Web3, Heath's perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide," Jeremy Allaire, chief executive officer of Circle, said in a statement. Reporting by John McCrank; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Heath Tarbert, Tarbert, Jeremy Allaire, John McCrank, Chizu Organizations: YORK, Futures Trading Commission, CFTC, Securities and Exchange Commission, Treasury Department, Citadel Securities ., Concord, Corp, Thomson Locations: U.S, Citadel Securities . Boston

☆ Premarket stocks: How crypto is dealing with debt ceiling turmoil
▼ + stars: | 2023-05-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Here’s what’s in the debt ceiling dealPresident Biden and Republican House Speaker McCarthy put their long weekend to good use, coming to an agreement to raise the debt ceiling in the hope of avoiding a self imposed default on US government debt. If Congress doesn’t raise the debt ceiling by June 5, Treasury Secretary Janet Yellen warns the government will not have enough funds to pay all of the nation’s obligations in full and on time. The debt ceiling bill does that, rescinding $1.4 billion in IRS funding. Corporate America celebrates debt ceiling dealIt appears that US industry is pleased with the debt ceiling deal, and would like Congress to pass it quickly. Leading business groups praised Biden and McCarthy for forging a bipartisan agreement over the weekend, reports my colleague Matt Egan.

☆ All’s fair in love and stablecoins
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 22 (Reuters Breakingviews) - If a stablecoin isn’t first, it’s last, as Circle has learned this month. The company that issues USDC lost its peg to the dollar earlier this month because of worries about the $3.3 billion it held at Silicon Valley Bank. Though Circle recovered the funds from the bank, customers pulled $6 billion from it, according to Bloomberg. Circle Chief Executive Jeremy Allaire, in contrast, does regular rounds in Washington and has argued for regulation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Circle's CEO discusses the 'precautions' the company took after SVB's collapse
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCircle's CEO discusses the 'precautions' the company took after SVB's collapseJeremy Allaire, CEO of Circle, discusses the steps the company was preparing to take if the government didn't step in to protect Silicon Valley Bank depositors. Circle had $3.3 billion of cash that backed its USD Coin stablecoin parked with SVB.

☆ SVB crisis makes stablecoin legislation even more urgent, Circle's CEO says
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSVB crisis makes stablecoin legislation even more urgent, Circle's CEO saysJeremy Allaire, CEO of Circle, discusses the regulatory landscape for stablecoins.

☆ Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) recovered to $0.9917, closer to its par and up from last week's lows around $0.88. Over the weekend, USDC had lost its 1:1 dollar peg and hit a record low on Saturday on concerns over the exposure of Circle — the firm behind USDC — to Silicon Valley Bank. Circle CEO Jeremy Allaire said in a tweet its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank (SIVB.O) will be fully available when U.S. banks open Monday.

☆ Circle says $3.3 bln USDC reserves to be fully available on Monday
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

March 12 (Reuters) - Cryptocurrency firm Circle said on Sunday all its depositors with the collapsed Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) will be made whole and the $3.3 billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open Monday. Circle said it did not have any Stablecoin USD Coin (USDC) cash reserves at Signature Bank and that the token remained redeemable at 1:1 U.S. dollar peg. Further, the crypto firm announced an automated USDC minting and redemption through Cross River Bank, effective Monday, and said its expanded relationships also include USDC redemptions via BNY Mellon (BK.N). "Circle's USDC operations will open for business, including with new automated settlement via our new partnership with Cross River Bank," Chief Executive Officer Jeremy Allaire said in a tweet. USDC lost its dollar peg and slumped to an all-time low on Saturday before recovering most of its losses when Circle assured investors it would honor the peg despite exposure to failed Silicon Valley Bank.

☆ Circle says $3.3 bln USDC reserve to be fully available on Monday
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

March 12 (Reuters) - U.S. cryptocurrency firm Circle said on Sunday its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank will be fully available when U.S. banks open Monday. "Circle's USDC operations will open for business, including with new automated settlement via our new partnership with Cross River Bank," Chief Executive Officer Jeremy Allaire said in a tweet. Reporting by Akriti Sharma in Bengaluru; Editing by Sonali Paul and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Bitcoin, USDC stablecoin rally after US intervenes on SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB). The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) , which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. Circle CEO Jeremy Allaire said in a tweet on Monday all of USDC's reserves are safe and will be transferred from SVB to BNY Mellon. Bitcoin was up about 7% at $22,183, compared to Sunday's low of $20,456.

☆ Bitcoin and Ethereum are here to stay: Circle CEO Jeremy Allaire
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and Ethereum are here to stay: Circle CEO Jeremy AllaireCircle CEO Jeremy Allaire joins 'Squawk Box' to discuss whether crypto 'winter' is over, if further regulation is coming into play for crypto, and more.

[1/4] People stand in front of the Blockchain Hub Davos 2023 at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 16, 2023. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 19 (Reuters) - In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see. Executives in Davos said they are now all about blockchain technology, proper controls and regulation, and the promise of disruption that it holds for financial services and beyond. Colm Kelleher, chairman of Swiss bank UBS (UBSG.S), told a WEF panel that blockchain technology will help reduce costs for banks. "We kind of dodged a bullet," Kelleher said, noting that the collapse in the value of crypto currencies had not caused systemic problems.

"FTX in my view now gets painted as a crypto problem. I think if you really peel enough onion layers, it's not really a crypto ... problem to happen here, it's fraud. "We talk about this as a crypto problem. But really, this is just fraud, and I think in some ways, not that dissimilar than Bernie Madoff," said Garlinghouse. "When Bernie Madoff occurred, we didn't totally restructure how we thought about oversight and regulation of hedge funds."

☆ Circle CEO sees more insolvencies in crypto in 2023; talks regulatory outlook
▼ + stars: | 2023-01-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCircle CEO sees more insolvencies in crypto in 2023; talks regulatory outlookJeremy Allaire, the CEO of Circle, speaks to CNBC's Arjun Kharpal at the World Economic Forum in Davos, Switzerland.

Jan 16 (Reuters) - Major markets such as the United States need new statutory definitions of digital assets to provide regulatory clarity for the sector, Jeremy Allaire, CEO of USDC stablecoin issuer Circle said on Monday. Allaire said blockchain technology itself should be viewed similarly to an operating system, while individual use cases should be regulated separately. "New definitions ... would help provide more clarity on which regulators are involved in what activity," Allaire told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos. The European Union is leading in developing digital asset regulations, he said, with the region's Markets in Cryptoassets (MiCA) rules expected to come into effect in 2024. "We're quite optimistic that MiCA will create the conditions for a thriving competitive market in the EU," Allaire said.

☆ Circle CEO Jeremy Allaire: Our USDC stablecoin remains very safe
▼ + stars: | 2022-12-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCircle CEO Jeremy Allaire: Our USDC stablecoin remains very safeCircle CEO Jeremy Allaire joins CNBC's "Squawk Box" to discuss the fallout from the collapse of FTX and the arrest of Sam Bankman-Fried and how it's affecting Circle's popular stablecoin, USDC.

☆ Circle CEO Jeremy Allaire discusses $9 billion SPAC deal termination
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCircle CEO Jeremy Allaire discusses $9 billion SPAC deal terminationJeremy Allaire, Circle CEO, joins 'TechCheck' to discuss the hangup over Circle's SEC registration, if Circle's profitability is sustainable and the outstanding questions the SEC decided not to approve Circle.

☆ Circle’s SPAC flop does the public market a favor
▼ + stars: | 2022-12-05 | by ( John Foley | ) www.reuters.com time to read: +4 min

The firm run by Jeremy Allaire planned to go public through a marriage with a special-purpose acquisition company, valuing it at $9 billion. USD Coin is regulated by a New York financial watchdog, unlike rival Tether, but lacks the secure trust-company structure of peers Gemini and Paxos. Concord, a listed special-purpose acquisition company chaired by former Barclays chief Bob Diamond, agreed to buy Circle in July 2021. The circulating supply of USD Coin was $43 billion on Dec. 5, according to CoinMarketCap, compared with $53 billion in February. At that time, Circle estimated there would be $110 billion of USD Coin in circulation by the end of 2022.

☆ Fintech Circle terminates $9 bln deal with Bob Diamond-backed SPAC
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

Dec 5 (Reuters) - Cryptocurrency operator Circle Internet Financial said on Monday it has decided to end a $9 billion deal with blank-check firm Concord Acquisition Corp (CND.N), nearly ten months after an earlier agreement was amended. Circle is the principal operator of stablecoin USDC and reported a net income of $43 million and nearly $400 million in cash in the third quarter. Earlier valued at $4.5 billion, Boston-based Circle had amended its agreement with Concord, which is backed by former Barclays (BARC.L) boss Bob Diamond, in February and doubled its valuation. Blank-check vehicle 10X Capital Venture Acquisition Corp II (VCXA.O) said in August it mutually ended its $1.25 billion merger deal with crypto mining and infrastructure company Prime Blockchain. loadingReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ 'Boomerang CEOs' don't always work out; Disney hopes this one bucks trend
▼ + stars: | 2022-11-22 | by ( David Randall | ) www.reuters.com time to read: +5 min

NEW YORK, Nov 22 (Reuters) - Can Walt Disney Co (DIS.N) bank on another hit sequel? That appears to be the hope behind the company's surprise decision to bring back former chief executive Bob Iger to replace Bob Chapek. During his first tenure from 2005 to 2020, Disney's annualised shareholder returns were more than 14%, well above its rival Comcast Corp (CMCSA.O) and the broader stock market, and in total in that period the stock rose more than 400%. Yet there are reasons to think that Disney may have made the right decision in bringing back Iger, Bingham said. “I think this is a game-changer," said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors, about Disney.

☆ Crypto readies itself for a post-FTX hose-down: podcast
▼ + stars: | 2022-11-15 | by ( John Foley | ) www.reuters.com time to read: 1 min

NEW YORK, Nov 15 (Reuters Breakingviews) - The collapse of Sam Bankman-Fried’s empire exposed the vulnerabilities of a vast, unregulated world of digital finance. Rivals like Circle CEO Jeremy Allaire hope to prove there’s a safer side of crypto worth saving. He presents his case in this episode of The Exchange podcast. Listen to the podcastFollow @johnsfoley on TwitterEditing by Sharon Lam and Amanda GomezOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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