Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Circle launches euro-based version of USDC stablecoin, Rumble proposes open-source moderation policy, and LATAM Cargo goes live on WebCargo
As USDC Stablecoin Gains Momentum, a Euro Version Is On Its Way
Circle Internet Financial Ltd. is launching a euro-based version of its popular USDC stablecoin, which has been gaining traction after its closest rival Tether has come under increased scrutiny.
Euro Coin — EUROC — will be available June 30 to institutional customers as a regulated, euro-backed stablecoin, issued under the same full-reserve model as USDC, Circle said in a statement Thursday.
The growth of USDC has doubled the value of Circle’s planned merger with special purpose acquisition company Concord Acquisition Corp. (NYSE:CND) to $9 billion. However, the date of the deal’s closing has been pushed back multiple times amid heightened scrutiny of SPAC mergers.
READRumble Proposes an Open-Source Content Moderation Policy & Process to Improve Transparency & Put Creators First
Today, the video streaming platform Rumble announced the first phase of an updated content moderation process designed by creators and anchored in transparency. The proposed moderation policies were designed by leading Rumble and Locals creators Robert Barnesand David Freiheit, both of whom are also accomplished attorneys.
Under the proposed policies, content creators will be able to express themselves to interested audiences within the limits of the law and without harassment while ensuring a consistent and transparent process as the platform continues its rapid growth. Rumble welcomes feedback on the proposed policies from the platform’s creators and users, which it will consider before implementing the new policies as part of the platform’s terms of use later this year.
The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
READLATAM Cargo, the top South American carrier, goes live with eBookings on WebCargo
Over the past three years, air cargo has undergone a digital revolution, driving more reliable, accurate, and accessible supply chains. Digital Air Cargo is expanding to South America with LATAM Cargo, the largest South American carrier, offering real-time pricing and booking for forwarders on WebCargo, a leading global cargo booking platform. LATAM Cargo, which offers services to over 135 destinations in more than 20 countries, is the first South American carrier to go live on WebCargo.
WebCargo joined the Freightos Group in 2016. In June 2022, Freightos announced that it signed a business combination agreement with Gesher I Acquisition Corp. (NASDAQ:GIAC) with the intent of going public.
READIsraeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...