Crypto Execs Launch $200M SPAC to Fuel Web3 Infrastructure Boom

A new Special Purpose Acquisition Company (SPAC), BIXIU, launched by crypto veterans has secured a $200 million valuation on Nasdaq. The venture seeks to bring blockchain infrastructure companies, including wallet providers, custody services, and exchanges, into the public eye. Led by Ryan Gentry (former Lightning Labs CEO) and James DeAngelis (CFO), BIXIU’s focus is on acquiring firms in the crypto space, potentially accelerating institutional investment in Web3 technology without impacting prominent cryptocurrencies like Bitcoin or Ethereum. )