Circle Internet Group announced on September 25, 2026, that Chief Financial Officer Jeremy Fox-Geen will step down by the end of the year or when a successor is named. Fox-Geen joined Circle in May 2021 and built the finance function from the ground up.
During his tenure, Fox-Geen guided the company through the 2022–23 crypto downturn and oversaw the $1.2 billion New York Stock Exchange listing in 2024, following a failed SPAC attempt in 2022. Circle now trades on the NYSE under the ticker CRCL.
"Having achieved many milestones, it is now the right time for me to step down and take a break before my next chapter," Fox-Geen said. CEO Jeremy Allaire credited him with bringing "strategic insight, financial leadership, and operating discipline through periods of both market turmoil and tremendous growth."
As CFO, Fox-Geen oversaw reserve composition and attestation for USDC, Circle's dollar-pegged stablecoin, which currently holds a market cap of approximately $75.3 billion according to CoinMarketCap. He was instrumental in addressing reserve questions during the 2023 banking stress that briefly triggered a USDC depeg scare.
The announcement coincided with co-founder P. Sean Neville's resignation from Circle's board of directors, citing personal reasons. Circle stated both departures were orderly and involved no disagreement with management. The board will shrink from eight members to seven.
Fox-Geen departs as Circle faces an expanding product portfolio and evolving regulatory environment. Recent developments include the launch of the Arc blockchain for payments with BlackRock and Visa as validators, a $400 million Tazapay acquisition, Bitcoin-backed USDC loans, and a $100 million Binance investment in Circle shares tied to a five-year USDC distribution agreement. Circle also holds a limited-purpose trust charter from the New York Department of Financial Services and is navigating stablecoin regulations that could affect USDC's classification.
CRCL shares closed at $89.00 on the day of the announcement, down 4.1%, and declined a further 1.8% after hours to $87.38. The stock remains up approximately 12% year to date.
