Circle CSO clarified that the company did not receive the Wells notice from the US SEC

On February 15, Dante Disparte, Chief Strategy Officer and Global Policy Leader of Circle, said in response to the tweet of Fox Business News reporter Eleanor Terrett that Circle had not received the Wells notice.

Interpretation of this information:

The message from Dante Disparte of Circle, a global financial technology firm, was a response to a tweet from Eleanor Terrett of Fox Business News. Terrett had tweeted that the SEC had issued a Wells Notice to Circle, indicating that the agency was considering enforcement action against the company. Disparte’s response was a clear denial, stating that Circle had not received any such notice from the SEC.

The Wells Notice is a formal communication from the SEC to a company, alerting them that the agency is considering recommending enforcement action against them for a potential violation of the law. The notice is not an accusation of wrongdoing, but rather a warning that the company should consider taking action to address any concerns the SEC may have.

Disparte’s statement that Circle had not received a Wells Notice is significant because it suggests that the SEC may not be considering enforcement action against the company at this time. This is good news for Circle, as such action could have a significant impact on the company’s operations and reputation.

It is unclear what prompted Terrett’s tweet in the first place, and whether there was any basis for the claim that Circle had received a Wells Notice. However, the fact that Disparte felt compelled to respond suggests that the issue was taken seriously by the company.

Overall, Disparte’s statement is a reassuring one for Circle and its investors, indicating that the company is not currently facing any imminent enforcement action from the SEC. However, it is important to note that the situation could change in the future, and that even the possibility of a Wells Notice can be a cause for concern.