Company Debunks Fake Platform Offering Tokenized Precious Metals

A purported press release circulated on December 24 announced the launch of CircleMetals, a platform allegedly created by Circle, the issuer of the USDC stablecoin, to facilitate tokenized gold and silver trading. However, a Circle spokesperson has confirmed that the release and the platform are 'fake'. The release, which utilized Circle's branding and quoted executives, including CEO Jeremy Allaire, described a service enabling 24/7 swaps between USDC and tokens supposedly backed by gold and silver, with rewards offered for participating. The website associated with the platform has since been taken down, and investigations have found no evidence of the existence of the claimed tokens or involvement by legitimate financial institutions. The incident highlights the importance of verifying the legitimacy of online platforms and requests, particularly those asking for wallet connections.