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Bitcoin Firm Set for Major IPO Amid Market Revival

24.07.2024 12:00 1 min. read Alexander Stefanov
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Bitcoin Firm Set for Major IPO Amid Market Revival

Fold Inc., known for its Bitcoin rewards program, is reportedly on the brink of a major business move that could significantly impact its future and the broader cryptocurrency industry.

As the crypto sector shows signs of revival, the company is nearing a merger with a special purpose acquisition company (SPAC) to go public.

Sources indicate that Fold Inc. is in the final stages of negotiating a merger with FTAC Emerald Acquisition Corp, a SPAC led by Betsy Cohen. This merger could value Fold at around $500 million. An official announcement is anticipated soon.

Fold Inc. is part of a growing trend of cryptocurrency companies aiming to go public. Bitcoin mining firm Genesis Digital Assets is planning an IPO, and Northern Data AG, which now focuses on AI computing services, is also considering a public listing.

The potential merger of Fold Inc. comes amid a surge in crypto startup funding. In the first quarter of 2024, valuations of crypto startups reached $2.4 billion, marking a significant increase despite a global dip in venture capital investments.

This growth is driven by lower interest rate expectations and the launch of U.S. bitcoin spot ETFs.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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