Coincheck is about to leap from Japan’s crypto scene into the US market limelight. It aims to be one of just two publicly listed cryptocurrency exchanges on the Nasdaq.
Their strategy involves a partnership with the SPAC, Thunder Bridge Capital Partners IV, which positions Coincheck on the verge of a major breakthrough as it approaches its tenth anniversary.
It’s a strategic play that could also be a potentially lucrative stock.
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Bigger Picture: Coincheck Opens Door to More Japan Crypto Stocks
Coincheck’s taking a shortcut to Nasdaq, sidelining the IPO circus for a straight-up merger with THCP.
It’s a swift move to trading as Coincheck Group NV under the ticker CNCK, dodging the IPO headache.
The decision comes after increased SEC oversight on the crypto industry.
JUST IN: 🇺🇸 Wells Fargo bank reveals it has spot #Bitcoin ETF exposure in new SEC filing 👀 pic.twitter.com/H1iY9puKVb
— Bitcoin Magazine (@BitcoinMagazine) May 10, 2024
Recent actions by the SEC against various crypto firms underscore the regulatory tightrope Coincheck will need to walk as it embraces public trading.
The Bottom Line: Should You Invest in the Coincheck SPAC?
Two years ago SPACs were tantamount to a new memecoin craze in TradFi.
SPAC-merged companies have recently underperformed and gone bankrupt, causing a $46 billion erosion in market capitalization for SPAC-public entities, making investors cautious.
As for Coincheck, boasting 1.98 million verified users it is a titan in Japan’s crypto exchange arena.
This ambitious listing’s timeline targets the second or third quarter of the year, contingent on approvals from Thunder Bridge IV’s shareholders, the SEC, and Nasdaq.
This move could place Coincheck alongside Coinbase as the only crypto exchange publicly traded in the U.S., meaning, if you’re an investor in crypto stocks, this needs to be on your radar.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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