Sources: Circle slashes reported $250 million fundraising goal by $100 million

Crypto startup Circle's revised fundraising goal is 40% lower than the $250 million it was reportedly set to raise in March, according to sources familiar with the matter.

The confirmation of the new lower goal follows news of lay-offs at the company. Circle CEO Jeremy Allaire announced today on Twitter that the company has laid off 30 employees. Allaire said the layoffs are an attempt to cut costs, while the company itself “remains strong and healthy.”

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