Crypto Executives Launch $200 Million SPAC Aiming for IPO

A group of prominent figures within the crypto world is spearheading a new Special Purpose Acquisition Company (SPAC) designed to acquire and take public an existing business in the industry. Bitcoin Infrastructure Acquisition Corp Ltd., based in the Cayman Islands, has filed a SEC document outlining its intention to raise $200 million through the sale of 20 million shares priced at $10 each on the Nasdaq stock exchange. Its ticker symbol will be BIXIU.