Stock Market News
eToro Plans to Abandon its Deal to Go Public via SPAC – Reports
2022.07.01 06:11
eToro Plans to Abandon its Deal to Go Public via SPAC – Reports
By Davit Kirakosyan
eToro Group Ltd., an online brokerage, and Fintech Acquisition Corp V (NASDAQ:FTCV), a special purpose acquisition company, plan to abandon the deal to take the company public, The Information reported Thursday afternoon citing a person familiar with the matter,
Similar to other tech and media companies, eToro backed off the SPAC deal to take it public amid the tech stock and crypto sell-off. eToro had been skewing heavily toward cryptocurrencies. In the fourth quarter of 2021, the company added nearly 300,000 net new funded accounts.
