UPDATE: The decision to cancel the agreement has been approved by the board of both circle and Concord Acquisition. By parikshitm899 and JamieCrawleyCD
Circle CEO Jeremy Allaire attributed the termination to not completing the U.S. Securities and Exchange Commission's "qualification in time" in a Twitter post.
"I believe that the SEC has been rigorous and thorough in understanding our business and many novel aspects of this industry," he added."This kind of review is necessary to ultimately provide trust, transparency and accountability for major companies in crypto." The firm also said that it turned profitable in the third quarter of this year and ended the quarter with almost $400 million in unrestricted cash.
The termination follows similar high-profile crypto firms cancelling plans to go public via a SPAC, such as
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Spac deal for stablecoin issuer Circle collapsesSpecial purpose acquisition company Concord Acquisition Corp. undefined said Monday its deal to buy stablecoin issuer Circle Internet Financial has been...
Les mer »
Cardano Founder Indicates 'Gold Standard of Digital Age,' and It Is Not ADAAs Cardano (ADA) strengthens its position in stablecoin segment, Charles Hoskinson explains why algorithmic stablecoins matter
Les mer »
Cameroon is first African team to beat Brazil at World CupCameroon coach Rigobert Song came full circle on a memorable and bittersweet night for African soccer.
Les mer »
Cameroon is first African team to beat Brazil at World CupCameroon coach Rigobert Song came full circle on a memorable and bittersweet night for African soccer.
Les mer »
Cameroon is first African team to beat Brazil at World CupCameroon coach Rigobert Song came full circle on a memorable and bittersweet night for African soccer.
Les mer »
Circle and SPAC Concord mutually terminate business combinationCircle and Concord Acquisition Corp mutually ended their proposed business combination after the deal 'timed out.'
Les mer »