Stablecoin Issuer Circle Terminates $9 Billion SPAC Deal
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>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.
>Jeremy Allaire, the cofounder and CEO of Circle, says the company did not complete the US Securities and Exchange Commission’s (SEC) “qualification in time.”
Bullish for Tether!
USDT $4 EOY!!!
tldr; “We are strong, growing, profitable and in the best financial position we’ve ever been in,” Circle’s cofounder and CEO Jeremy Allaire said on Monday.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Not a good idea to launch during a bear market…
Circle business should be fucking booming right now if you believe way they say they’re doing. Basically, they accept real dollars, distribute 1:1 internet money, buy treasuries which are returning ATH since the beginning of crypto and should be their only revenue if they’re the vanilla, honest stablecoin we really need them to be. This IS the time for them to go public and the fact that they aren’t is very worrisome to me.
I would say it’s a good thing. Price of USD will probably pump a bit to 1.002 before going down to 0.99998 later on this year.
Can’t wait for the bull market pump to say least 1.003 in 2025. I’m all in!!!
Any lost USDC in wallets or CEX will be unclaimed cash for them.
Once again I was proven right. Fully backed and audited stablecoins such as USDC, BUSD, EEUR and EUROC remain the best.
I can’t believe people were already engineering fud saying Circle was going bankrupt.