eToro abandons SPAC deal: The Information - Aliens: AI Crypto News & Markets Updates
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eToro abandons SPAC deal: The Information

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The Block

Thu, Jun 30, 2022

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eToro, an Israel-based online brokerage offering cryptocurrency and stock trading, is not moving forward with its plans for a SPAC merger, according to sources who spoke to The Information .

The deal was set to take place on Thursday, merging with a SPAC called FinTech Acquisition Corp.

V deal, the combined company was expected to get over $400 million in private investment in public equity funding, according to the SEC .

This news follows a broader trend of other tech companies abandoning plans for a SPAC merger due to stock market instability.

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