The rise in the value of Bitcoin and media coverage of cryptocurrencies could make the industry ripe for startups going public in 2021. One of the methods for cryptocurrency companies to go public could be through a special purpose acquisition company. Coinbase is considering a 2021 initial public offering, but could also be a candidate for a SPAC deal. Here is a look at some SPACs that could target cryptocurrency companies or have already announced a deal in the space. See also: How to Buy Bitcoin (BTC) GS Acquisition Holdings II (NYSE: GSAH): The Goldman Sachs (NYSE: GS) SPAC raised more than $700 million in its offering. The company has been linked to eToro after the cryptocurrency exchange talked to Goldman about a potential IPO. Goldman is also said to be exploring entering the cryptocurrency market soon, which could mean it pursues partial ownership of a cryptocurrency-related company via this SPAC. Related Link: 10 SPACs Trading Under For Investors To Consider In 2021 Burgundy T
Greenberg Traurig’s Alan Annex Leads Over $25 Billion in SPAC Transactions in 2020
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Over the past year, Alan I. Annex, co-chair of Greenberg Traurig, P.A.’s Global Corporate Practice, has led numerous multi-disciplinary teams of attorneys assisting clients involved in more than $25 billion in Special Purpose Acquisition Company (SPAC) transactions, both nationally and internationally. MIAMI, FL (PRWEB) January 06, 2021 Over the past year, Alan I. Annex, co-chair of Greenberg Traurig, P.A.’s Global Corporate Practice, has led numerous multi-disciplinary teams of attorneys assisting clients involved in more than $25 billion in Special Purpose Acquisition Company (SPAC) transactions, both nationally and internationally. These transactions, which include both Initial Public Offerings (IPOs) and business combinations, show no signs of slowing in 2021.
Customers for the company have reached 17 million, with 5 million additional customers added in 2020.
Trade volume for eToro has tripled since the beginning of 2020. The company differentiates itself with its Copytrader portfolio, which has tools that are offered for no additional charge.
Another positive sign for a potential deal to go public could be the company’s increased headcount. The company has over 1,100 employees now and is reportedly planning to hire hundreds more in 2021.
eToro has raised over $200 million in funding.
Rival Robinhood, which is also considering a 2021 IPO, has also seen an increase in users in 2020.
The company has 15 million users and was completing 4.3 million daily transactions on average during the summer months.