{"id":543708,"date":"2023-01-26T05:02:54","date_gmt":"2023-01-26T02:02:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/circle-denies-blaming-sec-for-shuttered-9b-plan-to-go-public\/"},"modified":"2023-01-26T05:02:54","modified_gmt":"2023-01-26T02:02:54","slug":"circle-denies-blaming-sec-for-shuttered-9b-plan-to-go-public","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/circle-denies-blaming-sec-for-shuttered-9b-plan-to-go-public\/","title":{"rendered":"# Circle denies blaming SEC for shuttered $9B plan to go public"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a273942ce2ac\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a273942ce2ac\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/circle-denies-blaming-sec-for-shuttered-9b-plan-to-go-public\/#%E2%80%9D_Circle_denies_blaming_SEC_for_shuttered_9B_plan_to_go_public_%E2%80%9C\" >&#8221; Circle denies blaming SEC for shuttered $9B plan to go public &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Circle_denies_blaming_SEC_for_shuttered_9B_plan_to_go_public_%E2%80%9C\"><\/span>&#8221; Circle denies blaming SEC for shuttered $9B plan to go public &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMTM2MTA1NTAtNDczYi00NmIxLWEzYmEtNzAwOWQ2MGZkMDRiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.<\/p>\n<p>The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/10bfdb8e-3a16-4bd2-a979-2d4b4c86ea41\">characterized<\/a>\u00a0Circle\u00a0as having \u201cblamed\u201d the securities regulator for its \u201cderailed\u201d listing as a result of dragging its feet on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval of a merger agreement.<\/p>\n<p>However, a Circle spokesperson clarified to Cointelegraph that was not the case and that it doesn\u2019t hold any blame over the SEC for the termination of its merger agreement. <\/p>\n<blockquote><p>\u201cCircle has not and does not blame the SEC for anything related to the mutual termination of our SPAC merger agreement with Concord, and any statements to the contrary are inaccurate.&#8221;<\/p><\/blockquote>\n<p>Circle\u2019s listing on the New York Stock Exchange (NYSE) was pegged on them being able to combine with Concord, a company set up by banker Bob Diamond via a Special Purpose Acquisition Company arrangement, also known as a SPAC deal. <\/p>\n<p>However, according to the FT, Circle said the merger failed to be consummated as a result of the SEC not declaring the related S-4 registration effective in time, which would cause the agreement to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/investor.circle.com\/corporate-news\/news-details\/2022\/Circle-and-Concord-Acquisition-Corp-Mutually-Agree-to-Terminate-Proposed-Business-Combination\/default.aspx\">lapse<\/a> on Dec. 10.<\/p>\n<p>Circle\u2019s spokesperson however referred to previous statements made by the company in December, noting that \u201cthe deal simply termed out.\u201d<\/p>\n<p>Concord had not publicly disclosed a reason for the failed business combination, but filed an 8-K form with the SEC on Dec. 5\u00a0 \u2014 the same day the deal was announced as terminated \u2014 which revealed that it was being <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1824301\/000121390022077655\/ea169618-8k_concord.htm\">delisted<\/a> by the NYSE due to \u201cabnormally low trading price levels.\u201d<\/p>\n<p><strong>Related: <\/strong><strong><em>Court to hear oral arguments in Grayscale\u2019s lawsuit against the SEC in March<\/em><\/strong><\/p>\n<p>Indeed, in a Dec, 5 tweet Circle co-founder and CEO Jeremy Allaire had nothing but positive words regarding the SEC, and noted that while it was disappointing that they were unable to complete qualification in time it was still planning on becoming a publicly-listed company.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2\/ From my perspective, I believe that the SEC has been rigorous and thorough in understanding our business and many novel aspects of this industry.  This kind of review is necessary to ultimately provide trust, transparency and accountability for major companies in crypto.<\/p>\n<p>\u2014 Jeremy Allaire (@jerallaire) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jerallaire\/status\/1599755838566338560?ref_src=twsrc%5Etfw\">December 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph had previously reported, the deal was first announced in Jul. 2021 at a valuation of $4.5 billion, before doubling in Feb. 2022 when it was revised up to $9 billion.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/circle-denies-blaming-sec-for-shuttered-9b-plan-to-go-public\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Circle denies blaming SEC for shuttered $9B plan to go public &#8220; A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December. The stablecoin issuer representative was responding to a Jan&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":543709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/13610550-473b-46b1-a3ba-7009d60fd04b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75936,74898,75493,82350,117,79934,71278,70934],"class_list":["post-543708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-circle","tag-sec","tag-stablecoin","tag-usd-coin","tag-business","tag-financial-times","tag-nyse","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543708"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543709"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}