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The CEO of Circle, a company that tries to help users invest in cryptocurrencies easily, is stepping down at the end of December, reports CoinDesk. His name is Sean Neville and he will remain on the board after his tenure.
Unfortunately, we aren’t exactly sure as to why Neville is leaving the project. But, as the publication states, the former CEO sent out an email stating that part of the reason is due to Poloniex – the parent company of Circle – going for sale.
He also said in an email to the publication:
“I also expect to propel the mission forward through CENTRE and other new complementary paths that traverse worthwhile challenges in infrastructure, regulatory policy, economics, and product design,” he wrote. “As always, I remain stubbornly optimistic about our ability to devise and execute well-crafted things that improve our collective future.”
As you may know, Poloniex is one of the mid-tier cryptocurrency exchanges out there. It’s 18th in market cap as of this writing, and Circle was purchased to compete directly with Coinbase who has multiple different “templates” for investors to participate in buying just a batch of cryptocurrencies that are preset for them.
The goal here is to make the investment of cryptocurrencies more accessible.
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