Circle Internet Financial gets subpoena from SEC - CoinDesk

Stablecoin backer Circle Financial receives an "investigative subpoena" from the Securities and Exchange Commission requesting "documents and information regarding certain of our holdings, customer programs, and operations," it disclosed in a regulatory filing. The subpoena comes just a month after the payments company began onboarding corporate USDC holders into its first high-interest yield product, CoinDesk notes. Circle said in the filing that it's fully cooperating with the SEC's investigation as it also plans to go public through SPAC Concord Acquisition (NYSE:CND), a deal that will value the company at $4.5B. The company first disclosed the investigation's existence in an August filing, the same month when Circle agreed to pay more than $10M to settle charges by the SEC that it operated an unregistered digital asset exchange. Previously, (July 21) Circle Internet Financial sets aside $10.4M to settle SEC case against Poloniex - WSJ.