According to recent media reports, Circle has parted ways with its trading director, Dan Matuszewski, who led one of the largest OTC trading divisions in the encryption market and handled more than $24 billion in transactions last year alone. According to reports, Matuszewski will leave and continue to look for new entrepreneurial opportunities in the encryption industry. Circle announced that Nick Gustafson, former head of trading at Kraken, will lead Circle Trade and take over most of Matuszewski's business.