Crypto-friendly trading platform eToro to go public via $10B SPAC merger
Social trading platform eToro could become the next fintech player to pursue a public listing in the United States by merging with a blank check firm. Crypto-friendly trading platform eToro appears to be making firm moves toward achieving its goal of going public in the United States.According to a press release issued on Tuesday, eToro is in talks with FinTech Acquisition Corp V — a special-purpose acquisition company, or SPAC, owned by veteran Philadelphia banker Betsy Cohen — toward a $10 billion merger.Both companies are looking to raise equity to the tune of about $650 million to....
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The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 million to $1 billion. Etoro Cuts Staff, SPAC Deal Canceled The Tel Aviv, Israel-based social trading and crypto investment platform Etoro is laying off around 6% of the firm’s staff. The company’s CEO and co-founder Yoni....
The firm is reportedly seeking a new funding round that would infuse with more cash at a 50% lower valuation than one year ago. On Tuesday, special purpose acquisition company (SPAC) FinTech Acquisition Corp. V announced that it terminated its purposed takeover of Israeli cryptocurrency exchange eToro via a bilateral agreement. In explaining the decision, Fintech V chairman of FinTech V Betsy Cohen said: "eToro continues to be the leading global social investment platform, with a proven track record of growth and strong momentum. Although we are disappointed that the transaction has been....
The lending fintech agreed to merge with SPAC Social Capital Hedosophia.
The online cryptocurrency and stock brokerage platform Etoro has announced the company is going public via a deal with a special purpose acquisition company called Fintech Acquisition Corp V. The Etoro merger is a $10.4 billion deal, backed by the banking entrepreneur and Fintech Acquisition Corp V chair Betsy Cohen. Etoro Enters a Special Purpose Acquisition in a $10.4 Billion Deal The popular cryptocurrency trading platform and stock brokerage service, Etoro, has plans to go public with a $10.4 billion merger. The merger was invoked by a firm called Fintech Acquisition Corp V, and....
Yonni Assia believes that unprecedented retail investor interest will push regulators to be more proactive about crypto regulation. Crypto-friendly trading platform eToro is expecting regulators to ratchet up their oversight of the crypto industry, given the increasingly high levels of participation by retail traders and smaller investors. In comments for the Financial Times, the Israel-based company's CEO, Yonni Assia, said:“We are seeing a significant increase in the interest of retail investors and traders in the crypto market. As a part of that growth we should expect also regulators....