Parataxis Holdings, a Bitcoin investment platform, is looking to go public by a integration with $ 200 million special acquisition companies.
The New York Stock Exchange listed in the Spac Silverbox Corp IV entered an unample letter of purpose with Parataxis Holdings LLC on Monday, an affiliate of Parataxis Capital Management, a digital asset investment firm established in 2019.
Silverbox Corp IV is an affiliate of the Silverbox Capital LLC, a company established in 2020 to provide alternative investment management and sponsor sponsor of spacs.
The proposed integration indicates the growing interest of investor in the institution in Bitcoin and other cryptocurrencies.
If it goes on, the integration will bring the Bitcoin investment platform to Parataxis in public markets, and the new company will focus on institutional Grade Bitcoin (Btc) and crypto investment, According to In the announcement.
The target clients are Institution investors Looking for exposure to Bitcoin through the techniques of ownership, and the firm aims to capitalize on growing demand for Bitcoin as a “treasury and strategic asset.”
Listed to the public “high scalable” crypto platform
Joe Reece, co-managing managing partner in the Silverbox Capital, said the integration represents an opportunity to introduce a “unique and highly measured digital asset management platform in public markets.”
The initial focus includes a transaction under the development of South Koreadescribed by the parties as a “underserved market with significant demand of digital assets that can meet in the launch of the suggested platform.”
Related: Trump Media Execs are looking for $ 179m by new spac to possibly buy a crypto firm
The deal is still in the early stages, with only a letter of intent with common disclaimer that no specific agreement exists, and may not be close to dealing. Clear Street, a cloud-kin-roaring platform for multi-asset clearing and portfolio management, is the leading financial advisor.
Silverbox shares are moving
Silverbox completed the $ 200 million initial public offering in August 2024, and its stock is currently trading with NYSE under the “SBXD.”
However, this is a slow performer with 6.5% acquired since the beginning of the year, and the largest of the gains will come over the past few days while SPAC Merger News has been damaged.
POMP’s crypto spac performs well
Fintech dedicated to Fintech Fintech, Procap Acquisition Corp, Debuted at NASDAQ on May 20.
The Procap Acquisition Corp shares have been performing well since, hitting a full time of $ 11.35 on June 9, up to 5.5% since its launch.
A spac is a company that raises money through an IPO with the sole purpose of getting or integrating another business within a set time frame.
Magazine: Bitcoin $ 200k ‘Obvious’ Breakout, The First BTC Buy Gamestop: Hodler’s Digest
