USDC stablecoin issuer – Circle – announced that it has terminated its plans to acquire Concord Acquisition Corp, a publicly traded SPAC. The acquisition deal was signed in July 2021, and Circle had time till December 10, 2022, to complete all the required processes. However, the firm pulled the plug five days before the deadline.

Notably, Circle and Concord mutually decided to bring an end to the acquisition deal. And, the move was also approved by the board of directors of both firms. 

(by Priya NV)