Circle Appoints Former Goldman Sachs Executive to Board of Directors
Key Points:
- Circle Internet Financial has appointed Craig Broderick, a former Goldman Sachs executive, to its board of directors.
- Broderick worked for Goldman Sachs for over three decades and served as the investment bank’s chief risk officer.
- His expertise in risk management will help Circle in ensuring price stability and complying with regulations for its USDC stablecoin.
- Circle recently hired former Commodity Futures Trading Commission chairman, Heath Tarbert, as chief legal officer.
- The company also received its Major Payment Institution license in Singapore as it looks to expand in Asia.
- Circle’s USDC stablecoin is the second largest in the market, with over 26 billion tokens in circulation.
Hot Take:
Circle’s appointment of Craig Broderick, along with its recent hiring of Heath Tarbert, demonstrates the company’s focus on strengthening its risk management capabilities and regulatory compliance. With Broderick’s extensive experience in risk management at Goldman Sachs, Circle aims to make its USDC stablecoin the safest and most trusted digital dollar. By expanding its team with industry veterans, Circle is positioning itself for growth in emerging markets, particularly in Asia. As the second largest stablecoin in the market, Circle’s USDC continues to gain traction and maintain price stability.
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