Crypto ATM operator Bitcoin Depot, marketplace WonderFi seek to go public on Nasdaq

Bitcoin Depot, a US-based crypto ATM provider, hit An $855 million Special Purpose Acquisition Company (SPAC) deal to support a listing application on the Nasdaq by Q1 2023.

bitcoin depot has confirmed its listing following a Special Purpose Acquisition Company (SPAC) transaction with GSR II Mererora.

A special purpose acquisition company (SPAC) is a company formed by investors for the sole purpose of raising capital through an initial public offering (IPO).

With a transaction volume of around $320 million, Bitcoin Depot can reach a valuation of $885 million.

CEO Brandon Mintz said WSJMore Strong sales and profit performance for ATM providers despite adverse conditions.

The Atlanta-based crypto ATM provider has installed over 7,000 ATMs in the US and Canada and holds a global market share of 19.1%.

WonderFi, The Crypto Market, Comes To The U.S.

Canadian-based crypto market WonderFi Apply List common stock on NASDAQ. We have also applied for registration with the US Securities and Exchange Commission.

The potential endorsement will further our efforts to ensure that WonderFi’s shares will attract institutional and individual investors around the world.

WonderFi CEO Ben Samaro commented:

The listing application on NASDAQ and registration with the SEC are important steps for WonderFi as it continues to expand its business in the U.S. and globally.

Virtual Currency Winter Nasdaq

In the wake of the 2022 crypto winter, the Nasdaq reportedly lost more than $7 trillion as of May 2022. Most of the Nasdaq crypto exchanges were hit hard by the drop.

Coinbase is the first cryptocurrency exchange to go public in April 2021. Its stock price climbed to $400 on its debut day, but fell to around $70, representing a 72% price drop.As a result, Coinbase $1.1 billion Q2 2022.

Robin Hood did public Three months later, in July 2021, the stock did not get off to an impressive price start as it closed at $34.8, 8.4% below its listing price. By Q2 2022: Recorded A loss of $295 million.

Despite the drop, many Nasdaq investors are looking to add cryptocurrencies to their portfolios.Recent study According to Nasdaq, 72% of financial advisors are interested in investing in crypto assets.