Fold to Go Public via $365 Million SPAC Deal with FTAC Emerald on NASDAQ

Jul 24, 2024, 04:17 PM

Fold, a Bitcoin reward firm, is in advanced talks to go public via a special purpose acquisition company (SPAC) started by veteran Betsy Cohen. The deal with FTAC Emerald Acquisition Corp. would value Fold at nearly $500 million. Fold plans to list on the NASDAQ as the first publicly traded financial services company powered by Bitcoin. The firm will enter the market with over 1,000 Bitcoin in its corporate treasury and aims to accumulate thousands more. Fold's SPAC deal is valued at $365 million pre-money valuation. The announcement is expected as soon as Wednesday. Fold has been building its product over the past 10 years. The stock ticker for Fold will be $EMLD.