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Stablecoin Issuer Circle Blames SEC for Derailing $9B Plans to Go Public
Circle’s plans to go public last year via a $9 billion SPAC merger failed due to inaction by the United States Securities and Exchange Commission, the crypto firm alleges. The deal between Circle and Concord Acquisition, a special-purpose acquisition corporation set up by former Barclays CEO Bob Diamond, was abandoned last month amid turbulent markets after the collapse of the crypto exchange FTX. Circle is the issuer of the second-largest stablecoin, USDC, which currently has a market capitalization of $43.7 billion, per CoinGecko. According to reporting from The Financial Times, Circle now claims the primary ... (full story)
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- Posted: Jan 25, 2023 12:33pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 195
