Early investors in Bitcoin and billionaire Chamath Palatiya filed to raise $ 250 million in the blank company “American Exceptionalism Acquisition Corp A,” which targeted decentralized finances, AI, energy and defense sectors.
The Special Purpose Acquisition Company (SPAC) will be led by Capital Governance Steven Trieu as CEO and Palaitiya as Chairman, According to In a statement of registration filed with the US Securities and Exchange Commission on Monday.
The $ 250 million increase aims to offer 25 million shares to $ 10 each under Ticker Aexa in the New York Stock Exchange.
Palihapitiya and Trieu estimate decentralized finances, not Bitcoin, to rule the next wave of modern financial, focusing on solutions that bridge traditional markets with blockchain technology:
“While Mr. Palaitiya has long been a proponent of Bitcoin as an inflation hedge and alternative to fiat currencies, we believe that the next stage of development is the increasing integration between traditional finances and decentralized finance.”
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The pair taught the success of Stablecoin Issuer The recent public list of Internet Group, Saying this “has shown how decentralized finances can be used to eliminate traditional financial mediators and provide a clear value for customers through reduced friction.”
Venture capitalists recognized the path toward Acceptance of mainstream of crypto and stablecoins are “longer than expected,” but the path “now seems inevitable.”
Palanapitiya has mixed -all results in previous spacs
Palatiapiya led several high-profile spacs during the period of 2020 and 2021, with the successful fusion involving the capital Suvretta Holdings I and Social Capital Hedosophia Holdings V, which is now operating as SOFI technologies.
However, other spacs led by Palaitiya, such as the Social Capital Suvretta Holdings II, III, and IV, are liquid, giving him a mixed note.
Spacs are faced with challenges Because they depend on the strict limitations of time to find a private company to combine, often struggle to identify companies that are eligible with high appreciation, and work under significant regulation review.
Palatiyapiya once criticized crypto as dead in America
The naming of the American-themed spac of the Pirate came two years after he declared the crypto industry “dead in America,” pointing the finger to Former SEC Chair Gary Gensler For chasing dozens of high-profile suits against crypto companies.
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Critics are labeled part of Gensler’s crackdown of “Operation Choke Point 2.0” – a so -called coordinated effort by regulators to force banks away from themselves from crypto companies.
Many of the cases, including battles against Coinbase and Ripple, have been dismissed under the new crypto-friendly sec led by Paul Atkins, who also created A Crypto Task Force To provide clearer policies while balancing the consumer protection change.
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