According to Bloomberg, citing people familiar with the matter, bitcoin rewards company Fold Inc. is in advanced talks about going public through a blank check company founded by SPAC (Special Purpose Acquisition Company) veteran Betsy Cohen.
The deal with FTAC Emerald Acquisition Corp. would value Fold at nearly $500 million, sources said. A deal could be announced on Wednesday.
Representatives for Fold and SPAC declined to comment.
The start-up is one of several crypto companies preparing to list in the US as crypto assets recover after a series of crashes over the past two years. Bitcoin miner Genesis Digital Assets is planning an initial public offering (IPO). Another crypto miner, Northern Data AG, which has turned into an artificial intelligence computing service provider, is also considering going public.
Bloomberg: Bitcoin reward company Fold plans to go public through SPAC
2024-07-24 04:43:49
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