USDC Issuer Circle Under Investigation by SEC, Says it is Cooperating

Only four months since its first announcement to go public at $4.5 billion valuations via a special purpose acquisition(SPAC) merger, stablecoin USDC issuer, Circle has revealed that the company has been summoned by the U.S. Securities and Exchange Commission (SEC) with an investigative subpoena. An investigative subpoena is usually issued before the filing of any criminal charge and allows prosecutors to gather information before deciding whether to charge an entity with a crime.