Fold Plans Public Offering with SPAC

Bitcoin rewards provider Fold is preparing to go public via a special purpose acquisition company (SPAC) led by Betsy Cohen. The transaction with FTAC Emerald Acquisition Corp. values Fold at approximately $500 million, with an official announcement expected on Wednesday. Fold is part of a growing list of cryptocurrency companies planning to go public as the crypto market recovers from recent downturns. Other firms eyeing public offerings include Bitcoin mining company Genesis Digital Assets and computing service provider Northern Data AG. Once a favored method for companies to go public, SPACs have declined in popularity since their peak in 2021.

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