Circle Internet Financial, the backer of the USDC stablecoin, received a subpoena in July from the U.S. Securities and Exchange Commission,
The disclosure was made as part of a filing about Circle’s planned merger with the special purpose acquisition company, Concord Acquisition Corp., a deal
In July “we received an investigative subpoena from the SEC Enforcement Division requesting documents and information regarding certain of our holdings, customer programs, and operations. We are cooperating fully with their investigation,” the filing said.
“Circle is cooperating in an ongoing SEC investigation,” a Circle spokesperson said in an email, adding that the subpoena was a continuation of one in July that had been disclosed in an August filing. Circle cannot comment on the details of an open investigation, the spokesperson said.
The subpoena was reported earlier by CoinDesk.
