Circle Getting Serious About IPO; Hiring for A Director for SEC Reporting and Technical Accounting
The candidate for the position will be helping Circle out with the external reporting function, including Form 10-K filings and MD&A, which are required by the SEC for public companies.
Circle, a peer-to-peer payments technology company, seems to be getting serious about going public.
While the speculation around Circle’s initial public offering (IPO) has been doing the rounds for years now, the company has started to take some constructive steps towards this direction by having an SEC reporting staff.
The company is currently hiring for nearly 50 positions across the compliance, engineering, customer support, finance, product, marketing, product marketing, sales, security, and talent categories.
One particular position that has caught the eye is a Senior Director, SEC Reporting and Technical Accounting.
The candidate for the position will be helping Circle out with the external reporting function. Among the responsibilities involves preparing a process for submitting high-quality Form 10-K and Form 10-Q filings, including financial statements, MD&A, and disclosures.
Form 10-K is a document the US Securities and Exchange Commission (SEC) requires all public companies to file each year, detailing the company’s revenues, assets, and liabilities.
The MD&A section is also a required part of the quarterly and annual financial reports of publicly-held companies mandated by the SEC, but not a required part of the financial statements of privately-held entities.
Circle is just one of many cryptocurrency-based companies looking to take advantage of the ongoing bull run to go public and raise capital. Coinbase went public through the direct listing route last month, and competing exchange Kraken has shared its plan for the same as well.
The company has been seeing a lot of growth, reporting support for over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers and storing more than $5 billion in digital currency assets.
Circle’s stablecoin, USDC, has surpassed 21 billion in supply, from 15 billion less than two weeks ago and just under 4 billion at the beginning of the year.