Stablecoin Issuer Circle Internet Financial Makes Some Job Cuts

Circle Internet Financial Ltd., the issuer of the second-largest stablecoin in the cryptocurrency sector, said it made layoffs as part of a regular review of operations.

The job losses represent less than 6% of Circle’s workforce, a spokesperson said in a statement on Thursday, adding the firm continues to invest in geographical growth, efficiency and productivity powered by artificial intelligence. Back in June, Circle said the company had 882 employees.

“Circle regularly reviews our investments and expenses,” the spokesperson said. “This includes investing in teams and operational infrastructure that need to grow, while marginally reducing spend and some roles ...