3 Common SPAC Cryptocurrency Targets
Cryptocurrency has been around for decades, but as technology advances, so does the funding for many private companies looking to leave their mark in the crypto industry. On the flip side, there exists a group of corporations that look to sponsor target companies with potential for growth given their historical data. Such companies are called special purpose acquisition companies, otherwise known as SPACs.
What are SPACs?
According to top-ranked SPAC audit specialists at Marcum BP, SPACs seek to obtain or merge with a private company to raise capital via public SPAC IPOs (initial public offerings). These IPOs come from institutional and retail investors and once they are secured, the target company will then be considered as having gone public.
Many traders choose to manage their assets in these target companies manually while others prefer to use trade bots application program interfaces or APIs. Trade bots allow traders to create an account, sometimes only needing an email address for the setup. Traders can also choose free or paid trading strategies to automate their transactions, practice their trading without any risk of losing, and even design and implement their own trading strategies. Some trade bots include tutorials for beginners and tips for more experienced traders. CryptoHopper is considered as one of the top trading bots which offer these features and more.
Cryptocurrency trading bots like CryptoHopper offer automated trading strategies which traders can depend on to take care of their assets 24/7. It includes a free trial for beginners looking to enter the trading world and provides an easy method to create and set up trading accounts. CryptoHopper provides trading strategies that can be used as templates for future trades. This trader bot is compatible with 13 exchanges including public companies like Coinbase and private companies like Binance and Kraken. While Coinbase has already gone public, Binance, Kraken, and Bullish (another competitive brand) have yet to take that next step.
Let’s take a closer look at these public companies and at what makes them common SPAC target companies.
SPAC Cryptocurrency Target Companies
Coined as the largest crypto exchange worldwide, Binance provides users with a mobile application for daily trading activities. From buying and selling to monitoring live trades, Binance allows it all in its safe and convenient dashboard. Its application was designed for beginners and advanced users and even allows users to automate their investments on their desired schedules. Despite having regulation issues, Binance remains a leader in the cryptocurrency world and a crypto SPAC target company.
By providing access to exchanges like Bitcoin, Ripple, and Ethereum among other exchanges, in a regulated manner, Kraken is striving to go public. Kraken promotes low trading fees to its broad user base, making it a competition for big cryptocurrency names like Coinbase. With a long record of success, their secured platform is equipped with financial stability and hope for SPAC sponsors looking to clutch onto the Company’s success.
The latest news on this last startup cryptocurrency company, Bullish, is there are officialized plans to do a SPAC merger with the distinguished investor and ex-NYSE President, Tom Farley, in Far Peak Acquisition Corp. Bullish has been in the spotlight since it originated in May 2021 from the leading software company Block.one with a $10B capitalization and hundreds of millions of dollars funded by investors like Peter Thiel, co-founder of PayPal. Bullish is a decentralized cryptocurrency that’s combined with user privacy and compliance and offers lending, automated buying and selling of securities, and portfolio administration tools.
While researching for common SPAC cryptocurrency target companies, you will find a plethora of names that are tailored for different levels of trading skills. You will also find that behind them are large teams of well-known investors and tools with a long trade history in reputable companies. Lastly, what they all have in common is that both common people and SPAC shareholders put their trust (and monies) in these companies, so all that’s left is for these companies to go public and on to the moon.