Month: July 2021

What Is a SPAC? Your Questions Answered

SPACs have been an increasingly popular option for companies looking to go public, especially during the global slowdown caused by the coronavirus pandemic. But what are SPACs and why is everyone talking about them? A special purpose acquisition company (SPAC) is a newly created shell company formed by a group of investors known as “sponsors.” Sponsors raise funds for the SPAC through an initial public offering (IPO), a process in which a stake or an entire private company is publicly sold to institutional and retail investors in the form of…

China’s Big Miner Exodus Could be a ”Big Net Postive for the Ecosystem,” Says Mike Novogratz – Blockchain News, Opinion, TV and Jobs

boss

A major shift in location could actually good for Bitcoin as major miners are now leaving China following the country’s crackdown on mining Bitcoin. Galaxy Digital CEO Mike Novogratz has echoed other experts and is calling the migration to different places on the planet, a possible positive development. Novogratz mentioned on Bloomberg that China’s crackdown on just about everything, like banning mining, banning leverage, and even banning Bitcoin in some places, has not really affected Bitcoin that much. “It still exists, it survived”, said Novogratz. He even said that that…