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EToro's Spac deal falls through
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finextra.comAt the time, eToro was one of a wave of fintech firms looking to public via Spacs but the technique has seen its popularity take a dive thanks, in part, to regulatory changes.Betsy Cohen, chairman of FinTech V says the "transaction has been rendered impracticable due to circumstances outside of either party’s control".Founded in 2007 as a "social investment network" with the aim of opening up capital markets to the masses, eToro lets users trade a host of assets, from fractional equities to crypto.
Despite the onset of a crypto winter, eToro CEO Yoni Assia says that the company's underlying business remains healthy and "our balance sheet is strong".
. Read more on finextra.comAbout this in other media
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