Meet The First Crypto Exchange On NASDAQ

Plus insane DeFi growth by the numbers

Happy Thursday, Blockfolians

The Lede

One of Wall Street’s biggest trends this year is special purpose acquisition companies or SPACs. They’re basically a different way to go public that avoids much of the rigamarole of the IPO process. In effect, a promoter lists a “blank check” company on a public market and uses the proceeds to go out and merge with a private company, in effect taking it public. 2020 is already the biggest year in SPAC history and they represent 40%+ of IPOs.

NLW did a podcast on them earlier this week:

While Barry Silbert suggested that he was seeing many SPAC deals.

Looks like Barry was right, because today news broke that was using a SPAC to become the first crypto exchange to be listed on NASDAQ.

There has been much speculation about Coinbase as a potential target for a SPAC. Might they be next?

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.

Highly Relevant Reading

Community Commentary

Are “strategies” the next DeFi primitive?
This is seriously insane growth.

A Really Big Number We Should Be Paying Attention To  


That’s the growth in the number of Ether addresses in profit (i.e. worth more than they were at purchase/acquisition) over the last year

Final Thought

Go get ‘em Frankie