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Circle puts research arm on pause

Steven Zheng

Circle, the Boston-based cryptocurrency firm, announced Tuesday that it is going to "pause" its research arm, Circle Research.

According to a statement from the firm, despite "significant progress" of its content offerings, Circle has decided to evaluate its content contribution and strategy. "With that in mind, we’ve decided to pause Circle Research activity for the time being as we decide on a future direction for the program," the statement reads.

Circle Research was launched in October 2018. The research arm produced market analysis, project breakdowns, and provided weekly insights into the cryptocurrency ecosystem.

Today's announcement follows a wave of departures and project shutdowns in recent months. In August, The Block reported that Circle lost six employees from its OTC trading desk. In July, Circle announced that it was shutting down its Circle Pay payments app.