Everyone is feeling the squeeze. Circle, the company behind the issuance of USDC, says recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance.
The S-4 is a registration statement is a document that companies fill out and submit to the SEC before merging, taking over another company or providing an exchange offer.
“We estimate that up to $3.0 billion of the $8.3 billion decline in USDC in Circulation from June 30, 2022 to September 30, 2022 was driven by the auto conversion by Binance.” The first S-4 filing was submitted to the SEC in Aug. 2021, in which Circle planned to merge with capital markets firm Concord Acquisition. However, Concord decided to delay the merger in Oct. 2022 until “no later than Jan. 31, 2023.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TSM FTX drops FTXFTX had signed a huge sponsorship deal with TSM.
Read more »
Factbox: From Binance to Voyager, crypto firms' exposure to FTX is coming to lightAfter major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout.
Read more »
Understanding BUSD and Binance-Peg BUSD | Binance BlogTransparency and user protection have always been a top priority at Binance. BUSD is a fully regulated US Dollar-pegged stablecoin. We also offer the Binance-Peg BUSD, a wrapped version to extend BUSD's utility to other blockchains. Learn more ⬇️
Read more »
Get 5% Discount on All SafePal Hardware Products with Binance Card | Binance SupportPromotion Period: 2022-11-14 00:00 (UTC) to 2023-12-31 23:59 (UTC) Binance Card is launching a promotion in collaboration with SafePal ! Eligible Binance Card users who receive a SafePal disc...
Read more »