Fold

Million

when

Northern

Spot

Fold Inc, a company known for its Bitcoin rewards program, is reported on the verge of a significant business move that could reshape its future and potentially influence the broader crypto landscape. This development comes when the cryptocurrency sector is showing signs of recovery and renewed interest from both investors and traditional financial institutions.
<h2 id="fold-inc-spac-merger-details">Fold Inc &amp; SPAC Merger Details</h2>
In a significant development for the cryptocurrency sector, Bitcoin rewards company Fold Inc. is reportedly in the final stages of negotiations to go public through a merger with a special purpose acquisition company (SPAC). According to sources familiar with the matter, the deal could value Fold at approximately $500 million.
The blank-check company involved in the potential merger is FTAC Emerald Acquisition Corp, led by SPAC veteran Betsy Cohen. Insiders suggest that an official announcement could come as early as Wednesday, though the information remains private at this time.
This move by Fold Inc. is part of a broader trend of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> related companies seeking to go public in the United States, coinciding with the ongoing recovery of crypto assets following a tumultuous period marked by several market crashes over the past two years.
Other notable companies in the crypto space are also exploring public offerings. Genesis Digital Assets, a Bitcoin mining company, is planning an initial public offering (IPO). Similarly, Northern Data AG, which has pivoted from crypto mining to <a href="https://coingape.com/glossary/artificial-intelligence/" target="_blank" rel="noopener noreferrer nofollow">artificial intelligence</a> computing services, is considering a public listing as well.
The potential merger highlights the growing interest in cryptocurrency-related businesses from traditional finance players and could signal increased mainstream acceptance of the crypto industry. This merger news is still developing, and further details are expected to emerge in the coming days.
Also Read: <a href="https://coingape.com/spot-ether-etf-hits-1-1b-volume-btc-dominance-under-threat/" target="_blank" rel="noopener noreferrer nofollow">Spot Ether ETF Hits $1.1B Volume, BTC Dominance Under Threat?</a>
<h2 id="the-broader-context-of-crypto-startup-funding">The Broader Context of Crypto Startup Funding</h2>
The potential Fold Inc merger is set against a backdrop of exponential growth in crypto startup funding. As of the first quarter of 2024, the valuation of crypto startups rose to $2.4 billion, driven by expectations of lower interest rates and the launch of the first U.S. bitcoin spot exchange-traded funds (ETFs). This valuation, spread across 518 deals, marked a 40.3% increase from the previous quarter, even as global venture capital investments fell to a near five-year low.
The U.S. regulatory approval of spot bitcoin ETFs and more recently, <a href="https://coingape.com/spot-ethereum-etf-register-105-million-inflows-first-day-blackrock-leads/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETFs</a>, has bolstered the legitimacy of cryptocurrencies as an asset class. This regulatory progress, coupled with the increasing number of startups focused on crypto and <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> infrastructure, underscores the growing acceptance and integration of cryptocurrencies into the mainstream financial ecosystem.
Also Read: <a href="https://coingape.com/spot-ethereum-etf-register-105-million-inflows-first-day-blackrock-leads/" target="_blank" rel="noopener noreferrer nofollow">Spot Ethereum ETFs Register $107 Million Inflows on First Day, BlackRock Leads</a>
The post <a href="https://coingape.com/fold-inc-braces-for-ipo-with-500-million-valuation-after-spac-merger/" rel="noopener noreferrer nofollow">Fold Inc Braces For IPO With $500 Million Valuation After SPAC Merger</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Fold Inc Braces For IPO With $500 Million Valuation After SPAC Merger

Table of Contents

Coingape News Media

Muita 24. heinäk. 2024 julkaistuja artikkeleja

New Development in Mt Gox’s Billions of Dollars of Bitcoin Distributions

WazirX Hack Update: Recovery Initiatives and Security Upgrades After $230M Theft

Zircuit Secures Mainnet Funding from Major Crypto Investors

Hamster Kombat Price Prediction 2024 and Beyond

Bitcoin Miner Riot Acquired Small Kentucky Rival, Block Mining Inc., For $92 Million

Could Kamala Harris End the Ripple vs. SEC Lawsuit? MetaLawMan Weighs In

Join our free newsletter for daily crypto updates!