According to Bloomberg, Boston-based Circle revealed in January that it had submitted a draft registration statement to the U.S. Securities and Exchange Commission in preparation for a public listing. Recent executives include Chief Accounting Officer Tamara Schulz and Exchange Business Development Director Pierre Carras, both of whom took office in May. Business Development Director Sterling Barnett, who leads exchange partnerships in North America and Europe, took office in April. Although Circle's valuation is unclear, its valuation was estimated at $9 billion before plans to merge with special purpose acquisition company Concord Acquisition Corp. to go public at the end of 2022 were shelved. Circle's tokens reached a peak in circulation in mid-2022 and then declined for most of last year, which was related to the failure of Silicon Valley Bank, where Circle had reserved some of its funds. At the end of last year, the market value began to climb again and has increased by nearly 36% to about $32 billion since then.