The Latest SPAC News and Rumors: June 17, 2022


The Latest SPAC News and Rumors: June 17, 2022


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.


Rumble 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).


LATAM 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.