Circle calls off $9bn Spac deal
According to a statement, the decision was made because Concord had until 10 December to consummate the deal but has yet to secure the necessary Securities and Exchange Commission S-4 registration statement green light.Circle chief Jeremy Allaire insists the blockchain giant still plans to list in the future."We are disappointed the proposed transaction timed out, however, becoming a public company remains part of Circle's core strategy to enhance trust and transparency, which has never been more important," he says.Adds Diamond: "I remain confident in Circle's regulatory-first approach to building trust and transparency in the financial industry, which has never been more important, and I will continue being an advocate for the company as it continues to grow."
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