Circle Denies Involvement with CircleMetals Tokenization Platform

Fake press release claimed Circle launched CircleMetals for tokenized gold and silver trading.

On December 24th, a fake press release circulated online, claiming the launch of a new Circle project called CircleMetals for trading tokenized gold and silver.

In a conversation with CoinDesk, representatives of the USDC co-issuer confirmed that the information was false.

CircleMetals purportedly allowed the exchange of stablecoins for digital versions of precious metals. Users were enticed with rewards in a non-existent native token for interacting with the platform.

The publication “quoted” Circle CEO Jeremy Allaire and other company executives.

The press release also included a link to a website where users could immediately connect their wallets.

The article with the fake announcement was initially published on the Circle community forum but was quickly removed. It then appeared on other websites, including the corporate resource Chainwire.

At the time of writing, all materials related to CircleMetals, including the website, are unavailable.

The Circle team issued a separate post warning about increased scammer activity during the holiday season.

Holiday PSA: ‘Tis the season for scammers.

Please be alert and vigilant — verify the legitimacy of requests before taking action, especially when asked to connect your wallet. When in doubt, double-check.

Major announcements about Circle products will always be posted to…

— Circle (@circle) December 24, 2025

“Please be alert and vigilant — verify the legitimacy of requests before taking any action, especially when asked to connect your wallet. When in doubt, double-check,” the message reads.

Back in November, criminals used a public channel to contact Australia’s cyber police to scam local citizens out of digital assets.