The crypto project backed by Goldman Sachs is opening about its current situation of the company. The CEO of Circle, Jeremy Allaire, gave a small interview to Fortune where he talked how bearish market influenced its profit last year.
Let us recall what happened with crypto market in 2018. The beginning of 2018 was quite pleasant, the Bitcoin price accounted for approx. $13,000. Later, the prices of cryptocurrencies began falling down. The fall in prices in the first half of 2018 was quite predictable, as nothing lasts forever. Some crypto experts, like Tom Lee and John McAfee, even tried to predict the crypto price which would have been by the end of December, however, their predictions were not correct, which caused dissatisfaction investors who invest money in the crypto market.
In the second half of 2018, the price of all cryptocurrencies started to drop significantly. The crypto’s doomsday is considered to be November 15, when Bitcoin Cash had a hard fork, which caused crypto to go down. At the end of the year, the price of Bitcoin reached its lowest minimum of $3400 since 2014.
How did it influence the global crypto finance company? The chief executive of Circle assured everyone that business goes well.
“We had very significant growth year last year, even though there was a crypto bear market,” he said.
In addition, he mentioned that the total company’s revenue and customer base had grown last year.
Allaire also shared Circle’s plans for future. The company has recently acquired a crowdfunding site – SeedInvest, which helps company to issue securities. The CEO emphasized that tokenized securities would become a bigger part of Circle’s business in the near future.
“We’re going to look at ways that we can bring the benefits of digital assets, crypto technologies, and blockchains into this whole area of issuing securities over the internet.”
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