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Stablecoin Giant Circle Is Moving Its Headquarters to New York City
The USDC issuer will move into One World Trade Center, and New York Mayor Eric Adams – who has sought to make the city a crypto hub – will attend the Friday ribbon cutting.
Circle, the issuer of the second-largest stablecoin, will move its global headquarters to New York City's iconic One World Trade Center, where the cryptocurrency firm will occupy one of the top floors in what is the tallest building in the Western Hemisphere.
According to documents shared with CoinDesk, the move will be officially announced on Friday, and a ribbon-cutting ceremony will be held on Friday. New York Mayor Eric Adams will attend.
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"This is not going to be an 'office,' it's going to be a powerful convening space that our industry and global leaders will benefit from," Circle said in publicity about the opening.
Circle declined to comment. Adams' office never replied to a request for comment.
Adams has courted the crypto community and dreamed of making the city a major crypto hub. (Famously, his first paychecks as mayor were immediately converted into crypto.)
Read more: Can You Really Build a 'Crypto Empire' in the Empire State?
Standing on the site of the original World Trade Center, the new skyscraper, which is also known as the Freedom Tower, is currently the global headquarters of Condé Nast and home to firms like MDC Partners, Reddit, Code & Theory and BounceX.
Circle had announced plans to move its legal headquarters from Ireland to the U.S. ahead of its planned initial public offering. The company previously based its U.S. offices in Boston.
Circle's USDC, the second-largest stablecoin behind Tether's USDT, has a market cap of $34 billion and a 24-hour trading volume of $6.37 billion, according to CoinDesk price data.
Nick Baker
Nick Baker was CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
