USDC issuer Circle terminates SPAC listing plan, CEO: Still committed to going public
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The bleak crypto market has affected the operations and future plans of many companies, including Circle, the issuer of the second largest stablecoin USDC.
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The Global SPAC Count Sharp Decrease as Economy Freezes
SPACs, or Special Purpose Acquisition Companies, are formed to raise funds through an initial public offering (IPO) with the purpose of acquiring or merging with promising companies to take them public. It is considered a relatively fast way to go public.
However, this year's economic downturn has significantly impacted the number of SPACs.
According to data from Statista, as of October, there are only 83 companies that have gone public through SPACs this year, a decrease of 86% compared to last year's 613.
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