Circle, a global financial technology firm, terminated the agreement to go public via a SPAC merger with Concord Acquisition in a $9bn deal. "Concord has been a strong partner and has added value throughout this process, and we will continue to benefit from the advice and support of Bob Diamond and the broader Concord team. We are disappointed the proposed transaction timed out, however, becoming a public company remains part of Circle's core strategy to enhance trust and transparency, which has never been more important," Jeremy Allaire, Circle Co-Founder and CEO. On February 17, 2022, the transaction value was raised from $4.5bn to $9bn.