The CEO of stablecoin issuer Circle (USDC) says the company is moving its headquarters to New York City.
In a new thread on the social media platform X, Circle CEO Jeremy Allaire say that the company is moving from Boston to New York to immerse itself in the world of Wall Street, as blockchain technology becomes increasingly intertwined with the financial system.
“As this technology explodes into the mainstream and Circle becomes an increasingly important company and infrastructure for this new Internet financial system, it became clear that we needed to plant our flag, both literally and figuratively, in the heart of Wall Street. , in the most important economic center of the world, and in the great country of the USA.”
Allaire says the company is making the move to New York despite concerns that the U.S. government is hostile to the digital assets industry. He says the US is poised to become the biggest player in the global crypto revolution.
“Many complain that the United States is not the right jurisdiction to build a business in our industry and that the current administration here remains hostile to this industry. I couldn’t disagree more. My view is that we are at an inflection point and the US is poised to become THE decisive leader in building and sustaining this technological and financial revolution.”
According to one report According to Reuters, the company is making its move after confidentially filing for an initial public offering (IPO) earlier this year.
Earlier this month, Allaire announced that the crypto industry is home to surprises in the form of unexpected developments. Allaire said at the time that the blockchain industry is in the same state as the internet was in the early 2000s and that there is a huge wave of innovation on the horizon.
“When Web 2.0 came along, that started in 2003, and really expanded from there. That’s basically where I think crypto is right now. So I think the vast majority of surprises will come from applications and broader usability… I just think we’ll see a lot more surprises. There are many more surprises to come.”
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