Circle planned a merger with a publicly traded corporation via a SPAC.
The firm seems optimistic that it can complete the SEC’s public listing procedure.
Circle, the issuer of the USDC stablecoin, has continued with its preparations for an initial public offering (IPO) despite aggressive regulatory action by the U.S. Securities and Exchange Commission (SEC). But in light of the present regulatory climate, Circle can expect everything but an easy ride.
Circle planned a merger with a publicly traded corporation via a special purpose acquisition company (SPAC) amid the booming cryptocurrency market of 2021. However, Circle CEO Jeremy Allaire said that the company “did not complete the SEC qualification in time” in December of 2022.
Taking a Bold Step
A significant aspect of Circle’s agenda, though, was revealed earlier this year by business executives: going public. However, the firm has not yet settled on a date for its first public offering.
A company spokesperson stated:
“We
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