Many Crypto SPAC Deals Now In Jeopardy
— Deals, Public, Spacs, Crypto, Market, Jeopardy, Mining, Announced, Termination, Companies — 1 min read
SPACs are publicly traded shell companies created with the sole purpose of taking private firms public. In 2021, SPAC deals peaked at 81 deals totaling $155.43 billion. In total, 14 firms such as Bitdeer, BitFuFu and Griid Infrastructure are among those that announced SPAC mergers in the past year and have extended their termination deadlines. eToro announced the termination of its agreement with FinTech V, a SPAC that would have taken the company public at a $10 billion. Bullish Global, the Peter Thiel-backed crypto exchange that made headlines last year for also being valued at $9 billion, laid off about 10% of its staff earlier this week. Other exchanges that also have termination dates for planned mergers Source