Media: Bitcoin startup Circle plans to raise $ 250 million

The operator of the cryptocurrency exchange Poloniex , the investment application Circle Invest and the developer of the stablebcoin USDC startup Circle intends to attract an additional $ 250 million investment. It is reported by The Information .

In the previous rounds of financing, Circle raised over $ 240 million from Goldman Sachs, IDG Capital and other investment firms. According to the results of the last stage of financing, when we managed to get $ 110 million from the Chinese mining giant Bitmain, the startup capitalization was about $ 3 billion.

However, the market value of Circle soon presumably decreased significantly . The head of a bitcoin startup Jeremy Allaire, in a conversation with the publication, confirmed this hypothesis, noting that the decline in market activity had a negative effect on the financial performance of Circle.

Recall, the US stock exchange Kraken , competing with Circle, is preparing for a private placement of securities . Also at the end of last year, Coinbase, the largest cryptocurrency company in the USA, raised $ 300 million .

Subscribe to BlockchainJournal on Facebook !