The cryptocurrency space is full of Doomscrooling.

“Doomscrolling or doomsurfing is the act of spending an excessive amount of screen time devoted to the absorption of negative news. Increased consumption of predominantly negative news may result in harmful psychophysiological responses in some cases.”

On December 06, 2022, Jeremy Allaire: “Twitter has become a huge distraction for me and my team. Super tired of the vast amount of doom scrolling. Have decided to take the rest of Dec off Twitter.”

Previously on December 05, 2022, Jeremy Allaire:  “Some big Circle news. This morning, we announced the termination of our proposed deSPAC transaction. While disappointing that we did not complete SEC qualification in time, we remain focused on building a long-term public company.

From my perspective, I believe that the SEC has been rigorous and thorough in understanding our business and many novel aspects of this industry. This kind of review is necessary to ultimately provide trust, transparency, and accountability for major companies in cry.

We also today shared our high-level Q3 financial results, with $274M in revenue, $43M in Net Income, and ~$400M on our balance. We are strong, growing, profitable and in the best financial position we’ve ever been in.

While there are a lot of challenges within the crypto and blockchain industry, I am of the very firm conviction that we are going to decisively leave the speculative value phase and enter the utility value phase, and stablecoins such as USDC will play a huge part.

We are investing, building, growing, and working with a large and thriving ecosystem of companies and projects who are focused on bringing forward the vision of open, more inclusive and more efficient global financial system.

Community Response:  Take a break, you and the team have done amazing work for our space. Don’t let the vocal minority get you down.

We understand as an individual everyone needs to take a break from twitter every once a while. however, as a product/company, essential to stay timely transparent on social media. otherwise it is worrisome.

Industry leaders aren’t supposed to go into hiding at a time of when fear, uncertainty & doubt are at all-time highs.

Wow, crypto winter will drag on and on. Sec is part of the issue. I am willing to bet congress can’t be seen passing a stablecoin bill any time soon. Hurtful legislation will have to come first and maybe later legitimizing stables. Next stop genesis or miners bankruptcies!

What Jeremy is trying to say is that circle is solvent.