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Circle, the cryptocurrency firm behind the stablecoin USDC, has reportedly terminated plans to go public after canceling its special purpose acquisition company (SPAC) $USDC issuer Circle and special purpose acquisition company (SPAC) Concord Acquisition Corp announced the mutual termination of their proposed business Circle, the company behind stablecoin USDC, said it will no longer go public via merger with special purpose acquisition company Concord Acquisition Corp. on Monday. It is citing a mutually agreed termination of the agreement with Concord to go public at a $4.5 billion valuation. Concord is “a publicly traded special purpose acquisition USDC stablecoin issuer – Circle – announced that it has terminated its plans to acquire Concord Acquisition Corp, a publicly traded SPAC. The acquisition deal was signed Cryptocurrency operator Circle Internet Financial said on Monday it has decided to end a $9 billion deal with blank-check firm Concord Acquisition Corp, nearly ten Stablecoin group Circle has ditched plans to go public in a $9bn deal through a blank-cheque company chaired by former Barclays chief executive Bob Diamond, underlining how successive crises

Circle Terminates Plans to Go Public: What Happened to the $USDC Issuer's SPAC Deal?

Circle, the cryptocurrency firm behind the stablecoin USDC, has reportedly terminated plans to go public after canceling its special purpose acquisition company (SPAC). The initial buzz surrounding a public offering for the $USDC issuer Circle has faded, leaving many wondering why the deal fell through.

$USDC issuer Circle and special purpose acquisition company (SPAC) Concord Acquisition Corp announced the mutual termination of their proposed business combination. This decision marks a significant shift in Circle's strategy. Circle, the company behind stablecoin USDC, said it will no longer go public via merger with special purpose acquisition company Concord Acquisition Corp. on Monday. It cited a mutually agreed termination of the agreement with Concord to go public at a $4.5 billion valuation.

The deal with Concord Acquisition Corp, “a publicly traded special purpose acquisition,” aimed to bring Circle to the public market. However, the landscape has changed considerably since the initial agreement. USDC stablecoin issuer – Circle – announced that it has terminated its plans to acquire Concord Acquisition Corp, a publicly traded SPAC. The acquisition deal was signed with high hopes, but market conditions appear to have played a crucial role in its demise.

Cryptocurrency operator Circle Internet Financial said on Monday it has decided to end a $9 billion deal with blank-check firm Concord Acquisition Corp, nearly ten [months after the initial announcement]. This termination reflects the challenges facing companies seeking to go public via SPAC, especially in the volatile cryptocurrency sector.

Stablecoin group Circle has ditched plans to go public in a $9bn deal through a blank-cheque company chaired by former Barclays chief executive Bob Diamond, underlining how successive crises [in the crypto market] have impacted investor sentiment. The decision leaves Circle searching for alternative strategies for future growth and capital raising.

What does this mean for the future of Circle and the USDC stablecoin? Stay tuned for updates and analysis on this developing story.

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