Bitcoin Reward Firm Fold to Go Public Via Betsy Cohen SPAC (1)

Fold Inc., the Bitcoin reward firm, has agreed to go public via merging with a blank-check company started by SPAC veteran Betsy Cohen.

The deal with FTAC Emerald Acquisition Corp. gives Fold a pre-money equity valuation of $365 million, according to a Wednesday statement, confirming an earlier Bloomberg News report. Existing Fold shareholders will own 71% of the combined company’s outstanding shares upon closing of the transaction.

The startup is one of several crypto firms preparing for US listings as the asset class makes a comeback after a series of meltdowns in the past two years. ...