This Crypto Company Plans To Go Public Amid Bear Market

This Crypto Company Plans To Go Public Amid Bear Market

If sources are to be believed, cryptocurrency ATM firm Bitcoin Depot has struck a deal with a special-purpose acquisition company (SPAC) to go public.

In a deal that values the company at nearly $885 million, Bitcoin Depot will likely combine with the SPAC GSR II Meteora Acquisition Corp. The deal is expected to be unveiled later today. There are speculations that the company will pursue acquisitions post its IPO.

Bitcoin Depot is an Atlanta-based one of the fastest-growing crypto ATM companies in the world. The company operates more than 7,000 Crypto ATMs in the US and Canada. Unlike conventional automated teller machines, Bitcoin Depots are kiosks where cash can be used to buy bitcoin or any other digital currency, usually by scanning a QR code.

 

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