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Fold, a Bitcoin reward firm, is in advanced talks to go public via a special purpose acquisition company (SPAC) started by veteran Betsy Cohen. The deal with FTAC Emerald Acquisition Corp. would value Fold at nearly $500 million. Fold plans to list on the NASDAQ as the first publicly traded financial services company powered by Bitcoin. The firm will enter the market with over 1,000 Bitcoin in its corporate treasury and aims to accumulate thousands more. Fold's SPAC deal is valued at $365 million pre-money valuation. The announcement is expected as soon as Wednesday. Fold has been building its product over the past 10 years. The stock ticker for Fold will be $EMLD.
FOLD INC. IN SPAC DEAL WITH FTAC EMERALD Fold Inc., the Bitcoin reward firm, is set to go public via a SPAC deal with FTAC Emerald Acquisition Corp. The agreement would value Fold at close to $500 million. An announcement is expected as soon as Wednesday, according to sources.… https://t.co/T33xCxgaZn
FOLD INC. TO GO PUBLIC VIA SPAC DEAL Fold Inc., the Bitcoin reward firm, is in advanced talks to go public through a SPAC started by veteran Betsy Cohen. The deal with FTAC Emerald Acquisition Corp. would value Fold at nearly $500 million. Source: Bloomberg https://t.co/tTJA7mSfBE
Thesis PortCo @Fold_app will be the first publicly traded financial services company powered by Bitcoin. Thrilled to see this unprecedented milestone making headlines! Gradually, then suddenly. 👏👏👏 https://t.co/lVjR2I7DKY