As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week’s top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly.
PRIMEBLOCK, 10X CAPITAL TO MERGE: Prime Blockchain and 10X Capital Venture Acquisition Corp. II (VCXA) announced Friday the execution of a definitive business combination agreement. Upon closing of the transaction, which values the combined company at an estimated enterprise value of $1.25B, former Goldman Sachs (GS) investment banking veteran Gaurav Budhrani will be CEO and the combined company is expected to list its stock on the NASDAQ stock market. 10X Capital and PrimeBlock have secured a $300M committed equity financing facility from CF Principal Investments LLC, an affiliate of Cantor Fitzgerald & Co.