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.
