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Sources: Circle slashes reported $250 million fundraising goal by $100 million

by Celia Wan and Frank Chaparro

May 21, 2019, 7:18PM EDT  ·  2 min read

Quick Take

  • Crypto startup Circle reduced its reported fundraising goal by 40% to $150 million, according to sources 
  • The company also laid off around 30 employees, or 10% of its staff
  • The two moves coincide with the increasing pressure that over-the-counter trading desks face with compressed spread and more competition 

by Celia Wan and Frank Chaparro

May 21, 2019, 7:18PM EDT  ·  2 min read

Crypto startup Circle’s revised fundraising goal is 40% lower than the $250 million it was reportedly set to raise in March, according to sources familiar with the matter. 

The confirmation of the new lower goal follows news of lay-offs at the company. Circle CEO Jeremy Allaire announced today on Twitter that the company has laid off 30 employees.