According to Foresight News, Bloomberg reported, citing people familiar with the matter, that Bitcoin rewards company Fold Inc. is in advanced negotiations to go public through FTAC Emerald Acquisition Corp., a blank check company founded by SPAC veteran Betsy Cohen. The transaction with FTAC Emerald Acquisition Corp. will value Fold at nearly $500 million. People familiar with the matter said the transaction with the special purpose acquisition company could be announced as early as Wednesday.
Founded in 2019, Fold allows users to earn Bitcoin on debit card purchases, similar to credit card cash back.
