1 hour ago
The release, distributed connected Christmas Eve, utilized Circle branding and claimed to punctuation executives, but a Circle spokesperson said it was "not real."
Dec 24, 2025, 6:54 p.m.
A property merchandise published connected Christmas Eve claimed that Circle, the issuer of the USDC stablecoin, had launched a caller level offering tokenized golden and metallic trading.
However, it is "fake," a Circle spokesperson told CoinDesk.
The platform, launched nether the sanction CircleMetals, was promoted done a property merchandise distributed connected Dec. 24, a day erstwhile galore U.S. businesses are closed oregon operating astatine constricted capacity, and effect times are slower.
The merchandise described a caller work enabling 24/7 swaps betwixt USDC and purported golden (GLDC) and metallic (SILC) tokens, supposedly backed by COMEX-linked liquidity. Oddly, it prompted users to swap connected the level and person "1.25% successful $CIRM rewards." CoinDesk couldn't verify the said CIRM token, which doesn't look to beryllium listed connected large information aggregators.
The website asks users to link their wallets to alteration their quality to swap for the expected precious metals tokens. It is mostly considered a atrocious thought to link wallets straight to unverified websites, arsenic malicious actors tin past drain idiosyncratic wallets.
A screenshot of the CircleMetals wallet transportation pop-up. (Francisco Rodrigues/CoinDesk)
The merchandise adjacent utilized Circle branding and claimed to punctuation executives, including CEO Jeremy Allaire.
"Confirmed this is not real," a spokesperson told CoinDesk erstwhile asked.
The property merchandise announcing the product, distributed via a crypto-focused PR wire, includes links to what appears to beryllium a swap level that allows users to link their addresses and offers rewards for swaps of the expected tokenized golden and metallic tokens.
The PR steadfast that primitively listed the property release, ChainWire, declined to comment.
While the website remains live, determination is nary grounds to suggest that GLDC oregon SILC tokens beryllium oregon that immoderate morganatic fiscal instauration is involved.
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