CoinVoice has recently learned that Bitcoin rewards company Fold Inc. is in advanced negotiations to go public through a blank check company founded by SPAC (special purpose acquisition company) veteran Betsy Cohen, according to Bloomberg, citing people familiar with the matter.
The deal with FTAC Emerald Acquisition Corp. would value Fold at nearly $500 million, the people said. The transaction could be announced as early as Wednesday.
Representatives for Fold and the SPAC declined to comment for this story.
The startup is one of several crypto companies preparing to go public in the U.S. as crypto assets are recovering after a series of crashes over the past two years. Bitcoin mining company Genesis Digital Assets is planning an initial public offering (IPO). Another crypto miner, Northern Data AG, which has transformed itself into an artificial intelligence computing services provider, is also considering an IPO. [Original link]
