There appears to be one route to public markets that will slow down crypto: merging with SPACs or special purpose acquisition companies.
Why it matters: The extra time being seen in regulatory reviews for crypto SPAC deals coincides with heightened regulatory scrutiny for those go-public vehicles, as well as for the crypto sector at large.
By the numbers: A review of closed SPAC deals from April 2021 to April 2022 shows that the three in the crypto sector took more than 7 months to close, compared to an overall average of 5.6 months for all SPAC deals during that period.
Meanwhile, three other crypto firms have been waiting for about double the overall average time for the go-ahead from the Securities and Exchange Commission: Israeli-trading platform operator eToro; stablecoin issuer Circle Internet Financial; and crypto exchange Bullish.
Technically, the clock reset for Circle because it announced a new deal in February at a higher valuation, albeit with the same SPAC.
Driving the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...