Crypto-rewards shopping app Fold to go public through SPAC merger

IconCryptoNewsTerminal Staff23 Jul, 2024

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Crypto-rewards shopping app Fold to go public through SPAC merger

Crypto-rewards shopping app Fold is in talks to go public through a merger with a blank check company, or special purpose acquisition company (SPAC). The deal could value Fold at close to $500 million, according to Bloomberg. This news comes as a sign of the growing interest in cryptocurrency and blockchain technology. Fold has been planning to go public since a crypto rebound began after the FTX collapse, and an agreement could be announced as soon as Friday. The report also notes that crypto miner Genesis Digital Assets and German Bitcoin miner Northern Data are also preparing to go public. This indicates that the crypto industry is maturing and gaining mainstream acceptance.

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