{"id":58000,"date":"2022-02-17T17:56:36","date_gmt":"2022-02-17T15:56:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58000"},"modified":"2025-09-04T14:32:24","modified_gmt":"2025-09-04T11:32:24","slug":"circle-valued-at-9bn-in-updated-spac-merger-agreement","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-valued-at-9bn-in-updated-spac-merger-agreement\/","title":{"rendered":"Circle valued at $9bn in updated SPAC merger agreement"},"content":{"rendered":"<p>Circle agreed to new terms of the reverse merger deal with <span data-descr=\\\"special purpose acquisition company, a shell company for targeted mergers and acquisitions\\\" class=\\\"old_tooltip\\\">SPAC<\/span> Concord Acquisition Corp. The issuer of USD Coin (USDC) was valued at $9 billion, double the previously announced amount.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Circle\u2019s enterprise value has doubled \u2014 from $4.5 to $9B \u2014 since July 2021. Today we announced new transaction terms with our business combination partner, Concord Acquisition Corp. <a href=\\\"https:\/\/t.co\/G4kbNlnnBV\\\">https:\/\/t.co\/G4kbNlnnBV<\/a><\/p>\n<p>\u2014 Circle (@circlepay) <a href=\\\"https:\/\/twitter.com\/circlepay\/status\/1494287595462869000?ref_src=twsrc%5Etfw\\\">February 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In July, Circle announced that <a href=\"https:\/\/u1f987.com\/en\/news\/circle-to-go-public-via-spac-merger-valued-at-4-5-billion\">will become a public company<\/a> through a reverse merger with Concord Acquisition Corp. It was reported that its shares would list on the New York Stock Exchange under the ticker CRCL. The pre-merger value of the firm was estimated at $4.5 billion.<\/p>\n<p>The doubling of the valuation was attributed to improved financial prospects and competitive position. In particular, Circle noted growth in USDC\u2019s market capitalization and the asset\u2019s share of the total stablecoin supply.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cSince the initial deal was announced, the turnover of USDC has more than doubled, reaching $52.5 billion as of February 16, 2022,\u201d the press release states.<\/p>\n<\/blockquote>\n<p>According to The Block, USDC is the second-largest dollar-stablecoin by market capitalization after the segment leader Tether (USDT). The latter\u2019s dominance index stands at 44.72%.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"236\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/stable-2-1024x236.png\\\" alt=\\\"Circle valued at $9bn in updated SPAC merger agreement\\\" class=\\\"wp-image-165634\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/stable-2-1024x236.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stable-2-300x69.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stable-2-768x177.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stable-2-1536x354.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/stable-2.png 1725w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: <a href=\\\"https:\/\/www.theblockcrypto.com\/data\/decentralized-finance\/stablecoins\/share-of-total-stablecoin-supply\\\">The Block<\/a>.<\/figcaption><\/figure>\n<p>The boards approved the new agreement. The deal is planned to close by December 8, 2022, with the possibility of extending this deadline to January 31, 2023. The merger is subject to regulatory and shareholder approvals.<\/p>\n<p>In February 2022, Circle <a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-usdc-stablecoin-on-flow-blockchain\">announced the launch of the USDC stablecoin on the Flow<\/a> blockchain by Dapper Labs.<\/p>\n<p>In December 2021, the issuer <a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-usdc-stablecoin-on-the-avalanche-blockchain\">announced the launch of the asset on the Avalanche<\/a> network.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle agreed to new terms of the reverse merger deal with SPAC Concord Acquisition Corp. The issuer of USD Coin (USDC) was valued at $9 billion, double the previously announced amount.<\/p>\n","protected":false},"author":1,"featured_media":58001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,910],"class_list":["post-58000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58000"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58000\/revisions"}],"predecessor-version":[{"id":58002,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58000\/revisions\/58002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58001"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}