How SPACs are being deployed for digital assets: 21 Capital

A roster of Web3 companies have been attempting to go public for some time now. Circle, Kraken, Gemini, Ripple and Bullish are reconsidering IPO plans amid a more favourable US regulatory environment under President Trump. Circle has an active SEC filing and has moved headquarters to New York; Kraken is weighing a public offering but has only raised a fraction of its targeted pre-IPO funding; Gemini is reviving IPO plans after market turmoil stalled earlier efforts; Ripple may move forward once its SEC legal battle wraps up; and Bullish, after shelving Special Purpose Acquisition Company (SPAC) plans, is now preparing for a traditional IPO.

Source: X

Alongside this wave, a new entrant has emerged - 21 Capital (backed by Tether, Bitfinex and SoftBank) is under the leadership of Cantor Fitzgerald’s, Brandon Lutnick and is positioning itself to reshape how Bitcoin-focused firms access public markets. 21 will operate through a SPAC, a model that allows firms to bypass the long and expensive…