Sean Neville leaves post as co-CEO of Circle

Circle co-founder Sean Neville will be leaving his post as co-CEO of the firm at the end of this month, according to a report from CoinDesk. In a company email, Neville said he felt it an "appropriate" time for the transition in leadership, but did not disclose a specific reason for his exit.

He will remain on Circle's board as an independent director and continue working with the company's joint venture with Coinbase, CENTRE, which issues stablecoin USDC. 

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Neville co-founded Circle with Jeremy Allaire in 2014 as a payments firm before obtaining a Bitlicense from the New York Department of Financial Services. It was the first to receive such a regulatory nod. 

Neville did point to Circle's sale of subsidiary exchange Poloniex as a moment of transition, per CoinDesk. Circle acquired Poloniex in 2018 for around $400 million before selling it a year later. 

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Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.