Exclusive: eToro SPAC partner folds, to return $250M investor funds
FinTech Acquisition Corp. V was set up by legendary financier and founder of Jefferson Bank and The Bancorp, Betsy Cohen.
FinTech Acquisition Corp. V was set up by legendary financier and founder of Jefferson Bank and The Bancorp, Betsy Cohen.
Yoni Assia says that, in the current market environment, it is in the best interests of eToro to terminate the merger agreement.
FinTech Acquisition Corp. V and eToro have mutually agreed to terminate their previously announced agreement and plan of merger.
The SEC published proposed rules for enhanced disclosures for SPACs and updated accounting requirements for crypto companies.
eToro agreed to the going-public merger with Fintech Acquisition Corp V more than a year ago, in March 2021.
30-second spots for this year’s Super Bowl are selling at a record USD $6.5 million, up about 20% from last year.
eToro’s main comparable, Robinhood (NASDSAQ:HOOD), has seen its shares fall by about 75% post IPO to below $20.
eToro online brokerage rival/comp Robinhood has seen its stock sink by more than 70% from its early August peak.
The eToro-SPAC merger is still scheduled to close in Q4-2021, bringing eToro public at a valuation of about $10 billion.
eToro reported trading income of $176 million for Q3 2021, up 56% versus Q3 2020, driven by strong trading across a range of cryptoassets.