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Bitcoin financial services provider ProCap raises $750 million and completes merger with a NASDAQ-listed company via a reverse takeover
[Bitpush] A Bitcoin financial services provider has just made a major move—ProCap BTC has secured over $750 million in funding from investors in both traditional finance and the crypto industry.
There’s an even bigger plan behind this funding: they are merging with Nasdaq-listed Columbus Circle Capital Corp I. Shareholders already gave their approval in early December, and the deal is set to be finalized this month. After the merger, the new company will be called ProCap Financial, Inc., and will continue trading on the Nasdaq Global Market under the original ticker symbol BRR.
This adds yet another case of traditional capital entering the crypto sector, and this time they’re taking the route of a public company merger. Clearly, the Bitcoin financial services market is an irresistible opportunity.