Bloomberg: Bitcoin rewards company Fold is in talks to go public via SPAC

ChainCatcher news, according to Bloomberg citing informed sources, Bitcoin rewards company Fold Inc. is in advanced talks to go public through a blank-check company established by SPAC veteran Betsy Cohen.

Sources say that the deal with FTAC Emerald Acquisition Corp. will value Fold at nearly $500 million. The transaction could be announced on Wednesday.

Representatives from Fold and the SPAC declined to comment on the matter.

This startup is one of several crypto companies preparing to go public in the U.S., as crypto assets are experiencing a resurgence following a series of collapses over the past two years. Bitcoin mining company Genesis Digital Assets plans to conduct an initial public offering (IPO). Another crypto miner, Northern Data AG, which has now transformed into an AI computing service provider, is also considering going public.