1. BITBILIHome
  2. Article

Crypto ATM giant Bitcoin Depot’s $885M merger to go public on Nasdaq

• 100 views

TL;DR Breakdown

  • Crypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3.
  • Brandon Mintz, the founder, and CEO of Bitcoin Depot, stated that the merger was primarily aimed at supporting various growth opportunities and advancing the adoption of Bitcoin throughout North America. 
  • The announcement arrives at a time when regulatory scrutiny of companies offering cryptocurrency products or services in the United States is increasing.

Description

Bitcoin Depot, a leading cryptocurrency ATM company in the United States, has recently announced the completion of a merger deal that will enable the company to go public. The fintech firm GSR II Meteora Acquisition Corporation disclosed on June 30 that its stockholders had given their approval for the merger, establishing the company as a … Read more

Bitcoin Depot, a leading cryptocurrency ATM company in the United States, has recently announced the completion of a merger deal that will enable the company to go public. The fintech firm GSR II Meteora Acquisition Corporation disclosed on June 30 that its stockholders had given their approval for the merger, establishing the company as a special purpose acquisition company for Bitcoin Depot. The deal, valued at $885 million, was initially reported in August 2022 and is set to provide investors with exposure to Bitcoin Depot on the Nasdaq starting from July 3.

Brandon Mintz, the founder, and CEO of Bitcoin Depot, stated that the merger was primarily aimed at supporting various growth opportunities and advancing the adoption of Bitcoin throughout North America. Investors will have the opportunity to acquire shares of Bitcoin Depot through the ticker symbols BTM and BTMWW, representing common stock and public warrants, respectively.

The announcement arrives at a time when regulatory scrutiny of companies offering cryptocurrency products or services in the United States is increasing. The Securities and Exchange Commission (SEC) has filed lawsuits against major exchanges Binance and Coinbase, alleging their involvement in unregistered securities offerings.

 However, investment options providing exposure to cryptocurrencies appear to be gaining traction, as evidenced by BlackRock’s recent application to list a spot Bitcoin exchange-traded fund in June.

Crypto ATM firms struggle

Established in 2016, Bitcoin Depot has emerged as one of the largest crypto ATM firms in North America, boasting over 9,130 locations according to its website. In May, another ATM provider, Bitcoin of America, made the decision to cease operations in Connecticut following the state’s Department of Banking’s assertion that the company lacked the necessary licensing.

The merger and subsequent public listing on Nasdaq represent a significant milestone for Bitcoin Depot, allowing the company to tap into the broader market and attract new investors. As cryptocurrency adoption continues to expand, Bitcoin Depot’s extensive network of ATMs positions the company well to cater to the increasing demand for convenient and accessible avenues to engage with digital currencies. However, it is essential to remain aware of the evolving regulatory landscape and ensure compliance with licensing requirements to maintain a stable operating environment.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Crypto ATM giant Bitcoin Depot’s $885M merger to go public on Nasdaq

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月3日 20:33
Next 2023年7月3日 21:59

Related articles

  • Crypto Twitter abandons Threads after brief affair – Why?

    TL;DR Breakdown Meta’s Threads attracted the crypto community with its compatibility with decentralized protocols. Privacy concerns and lack of innovation led to a rapid decline in users. Competition and Meta’s history with standalone apps contributed to the breakup with crypto Twitter. Description Meta’s recently launched social app Threads seemed poised to become the next big thing, gathering millions of eager participants in just days. One prime target for this frenzy? The vibrant crypto community, a group no stranger to the fast-paced world of online platforms. But despite an initial infatuation, the love affair between Crypto Twitter and … Read more Meta’s recently launched social app Threads seemed poised to become the next big thing, gathering millions of eager participants in just days. One prime target for this frenzy? The vibrant crypto community, a group no stranger to the fast-paced world of online platforms. But despite an initial infatuation, the love affair between Crypto Twitter and Threads seems to have cooled down almost as quickly as it heated up. What happened? The initial attraction Threads burst onto the scene with an…

    Article 2023年7月31日

  • Your weekly dose of Asia’s crypto industry top events

    TL;DR Breakdown China recognizes virtual currency as property under criminal law, while Wuhan nullifies a mining contract. HashKey Exchange opens BTC/USD and ETH/USD trading in Hong Kong; South Korea mandates crypto exchange reserves for user compensation. Binance ponders exiting Russia; TRYB stablecoin pegged to Turkish Lira surges in market cap. Description As we navigate another eventful week in Asia’s crypto sphere, it’s clear that the industry is anything but dormant. From China’s intriguing stance on virtual currencies to major movements in Hong Kong’s trading platforms, let’s dissect the major events that have shaped the industry this week. Contents hide 1 China: Walking a Tightrope 2 Hong … Read more As we navigate another eventful week in Asia’s crypto sphere, it’s clear that the industry is anything but dormant. From China’s intriguing stance on virtual currencies to major movements in Hong Kong’s trading platforms, let’s dissect the major events that have shaped the industry this week. Contents hide 1 China: Walking a Tightrope 2 Hong Kong: Stepping Up the Game 3 South Korea: Navigating Tricky Waters 4 Japan & India: Charting…

    Article 2023年9月5日

  • BRICS: Dollar dominance is safe — at least for now

    TL;DR Breakdown Critics challenge the U.S. dollar’s dominance, with BRICS pushing for local currency lending. Discontent arises from potential risks like sanctions and the dollar’s value fluctuations. Despite challenges, the dollar’s strength is maintained by network effects, U.S. capital markets, and legal reliability. Description Critics have long jeered at the towering might of the greenback, but it’s not going anywhere soon. Although the U.S. dollar’s supremacy was put under the spotlight decades ago, today, the BRICS nations are leveraging geopolitical shifts to challenge its hold. The BRICS development bank pushes a compelling narrative: a lending system grounded in local … Read more Critics have long jeered at the towering might of the greenback, but it’s not going anywhere soon. Although the U.S. dollar’s supremacy was put under the spotlight decades ago, today, the BRICS nations are leveraging geopolitical shifts to challenge its hold. The BRICS development bank pushes a compelling narrative: a lending system grounded in local currencies. A bid, it seems, to step away from the imposing shadow of the U.S.-centered financial system. The Underlying Dissatisfaction with the Dollar…

    Article 2023年8月24日

  • USDT embroiled in depeg rumors amid stability concerns

    TL;DR Breakdown Kaiko researchers have claimed that USDT has been facing stability issues since August. Proposed solutions for USDT’s stability. Description USDT, the largest stablecoin in the crypto industry by market capitalization, has faced a series of depegging incidents throughout August, according to recent research by Kaiko. Stablecoins, which are digital currencies pegged to specific assets like the U.S. dollar or British pound, are designed to maintain a stable value. However, in times of extreme market … Read more USDT, the largest stablecoin in the crypto industry by market capitalization, has faced a series of depegging incidents throughout August, according to recent research by Kaiko. Stablecoins, which are digital currencies pegged to specific assets like the U.S. dollar or British pound, are designed to maintain a stable value. However, in times of extreme market volatility, they can deviate from their pegged value. Stablecoins role in the crypto industry Stablecoins play a crucial role in the cryptocurrency ecosystem by providing stability and a familiar reference point for traders and investors. These coins are meant to maintain a 1:1 peg with their…

    Article 2023年9月2日

  • Pepe price analysis: PEPE turns bearish as selling pressure prevails

    TL;DR Breakdown Pepe price analysis is bearish today. PEPE face strong resistance at $0.000001257. Support for PEPE/USD is located at $0.000001071. The most recent Pepe price analysis shows a decline in PEPE’s market position. The sharp decline in price has been caused by the recent selling pressure from the sellers. PEPE started today’s trading session with bulls ruling the market, but the sellers started to push the price lower as declines in volume were also noted. The current bearish momentum is likely to continue if PEPE fails to break above its resistance level. If it does not break above that level, we may see more downside pressure on PEPE in the near term. The support level at $0.000001071 could provide a good opportunity for buyers to enter the market if PEPE fails to break its resistance. PEPE is currently exchanging hands at $0.000001087, down by 7.49% in the past 24 hours. Over the last 7 days, PEPE has been down by 9.44% and holds a market capitalization of $426 million USD. The trading volume of PEPE in the last 24…

    Article 2023年6月12日
TOP