THE HASH: Stablecoin Issuer Circle Scratches Plan to Go Public; Reddit's Avatar Tokens Set Minting Record

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4.7 • 698 Ratings

🗓️ 5 December 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Bitstamp. The most valuable crypto stories for Monday, Dec. 5, 2022. "The Hash" group unpacks the top stories moving the crypto markets today, including Circle terminating its agreement with special-purpose acquisition company Concord Acquisition Corp., thereby stepping back from its plan to go public. Plus, Collectible Avatars, Reddit's set of art tokens based on the Polygon blockchain, set a minting record over the weekend, according to data from Dune Analytics. See also: Stablecoin Issuer Circle Cancels Plan to Go Public Minting of Reddit Avatar Tokens Climbed to Record High Over Weekend A Rookie Knocks Reddit’s NFT Marketplace Out of the Park - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Bitstamp is the longest-running crypto exchange and was recently rated #1 in the world by CryptoCompare. Regulation, transparency, and security are pillars that ensure customers' funds are safe; it’s the Bitstamp way. Learn more about how your crypto is always yours at bitstamp.net. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This episode of The HASH is sponsored by BitStamp.
0:10.6	This is The HASH podcast.
0:13.5	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
0:18.2	with stories that matter to the crypto world.
0:20.6	All on the H hash for your ears.
0:24.1	You're listening to the Coin Desk Podcast Network.
0:28.1	Hey, everyone. Happy Monday. You are watching The Hash on Coin Desk TV. And if you're listening to us,
0:34.3	you're listening on the Coin Desk Podcast Network. I'm Jen Sanassi. We got Wendy
0:38.2	O and Zach here with us today. Zach, you are kicking us off. What do you got?
0:43.5	Hey, happy Monday folks. Let's do this thing. So news came out this morning from USDC stable
0:50.0	coin issuer circle. They were calling off their plans to go public through a special
0:55.4	purpose acquisition company that would have valued them at about $8 billion, up to $9 billion,
1:01.2	depending on when they were announcing. They're going to wait on that. They're not going to do that.
1:05.3	That's been canceled. And that's what was announced this morning. Some interesting nuggets in
1:09.8	their announcements, a nice thread from CEO Jeremy Aller, among other things.
1:14.3	But them going public, at least through this spec, is currently on hold.
1:19.5	We'll talk about potentially why right now.
1:22.3	Jen, what do you thoughts?
1:23.5	Yeah, I think it would have been optimistic to think that Circle would have been able to get to this IPO by the end of the year,
1:30.0	just given the scrutiny that's on stable coins and the industry because of the events of the last few months.
1:37.0	I know in the announcement, they said that it was just a lot to get through with the SEC,
1:41.6	as the SEC kind of becomes a little bit stricter with the application
	...

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