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Chamath Palihapitiya Returns With $250M Spac Targeting Ai
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Chamath Palihapitiya Returns With $250M SPAC Targeting AI

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Chamath Palihapitiya, former Facebook executive and once-called SPAC king, is making a high-profile return with American Exceptionalism Acquisition Corp. A, a $250 million blank-check company. 

The special purpose acquisition company (SPAC) will seek mergers in artificial intelligence (AI), decentralized finance (DeFi), energy production, or defense, according to its latest regulatory filing. 

As per the filing, the plan is to offer 25 million shares at $10 each. It will be listed under the ticker ‘AEXA’ on the New York Stock Exchange (NYSE), and Banco Santander will lead the offering. Further, Steven Trieu, Group CFO at venture firm Social Capital, has been appointed as the CEO, with Palihapitiya acting as Chairman. 

Palihapitiya, Founder of Social Capital, has invested in key startups across these sectors, including AI firm Groq, clean-energy company Palmetto Clean Technology, and defense innovator Saildrone Inc. He also backs crypto-related ventures and has been a long-time advocate of Bitcoin, blockchain, and stablecoins.

Investors are chasing high-growth sectors. CoreWeave Inc. shares have jumped 132% since March, Nvidia Corp. added $1.1 trillion in market value over the past year, and DeFi platforms like Circle Internet Group Inc. and Bullish surged after recent IPOs. Defense stocks, including Palantir Technologies Inc., soared nearly 400% in the past year.

Despite the excitement, Palihapitiya warned retail investors about the high risks, noting that five of his previous SPACs, including Virgin Galactic Holdings Inc., lost significant value post-merger.

Experts say Palihapitiya’s profile and connections could help the SPAC succeed. Louis Camhi of RLH Capital noted that “serial dealmakers like Chamath often attract investors eager for high-growth exposure.” 

Jay Ritter, finance professor at the University of Florida, added that the SPAC’s success depends on finding a quality target at a fair price.

Also Read: TeraWulf Lands $3.7B AI Data Deal with Google-Backed Fluidstack



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Pompliano Bitcoin Treasury ProCap Unveils $1 Billion SPAC Merger

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In brief

  • Anthony Pompliano’s ProCap plans to leverage its Bitcoin holdings to “implement risk-mitigated solutions to generate revenue and profits.”
  • The firm says it will hold $1 billion in Bitcoin once a proposed merger is completed.
  • Bitcoin treasury firms are a hot trend, but analysts have raised concerns about the dynamic’s sustainability and the ultimate market impact.

Social media personality and crypto investor Anthony Pompliano unveiled a $1 billion merger on Monday to create ProCap Financial, a Bitcoin-native financial services firm that will soon join a growing list of companies stockpiling the asset on the Nasdaq.

Pompliano, who began promoting ProCap in April, said on X, formerly Twitter, that he had recently raised $750 million from “leading institutional investors on Wall Street” for the blank-check firm, alongside heavy hitters in the cryptosphere.

“It’s time to get to work,” Pompliano said, noting that ProCap will develop “products and services to produce revenue and profit from the bitcoin on our balance sheet over time.”

ProCap will merge with Columbus Circle Capital, which trades on the Nasdaq under the ticker name CCCM, ProCap said in a press release. Entities in the proposed transaction raised $516 million in equity and $235 million through convertible notes, the firm added.



Pompliano’s announcement comes amid a sharp uptick in firms adding Bitcoin to their balance sheets, including Trump Media’s $2.5 billion raise to buy Bitcoin last month, and GameStop’s recent adoption of Bitcoin as a treasury reserve asset. Although many firms are simply buying Bitcoin and holding it, Pompliano underscored in a statement that capital will be put to work.

 

“Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings,” he said.

Bitcoin-buying firms like Strategy, formerly MicroStrategy, have been able to transform themselves over time. In a recent note from Coinbase, however, analysts warned that the trend may not be sustainable and could one day yield “systematic risks” for the entire crypto sector. 

The logic goes that a sharp drawdown in Bitcoin’s price could force these firms, which often turn to debt to fund purchases, could be forced to sell the asset en masse.

Worldwide, 134 public companies have purchased 835,000 Bitcoin worth $85 billion, according to Bitcoin, according to Bitcoin Treasuries. Bitcoin was changing hands around $102,000 on Monday, a 2.2% increase over the past day, according to crypto data provider CoinGecko.

Edited by James Rubin

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KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger
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Pompliano unveils ProCap Financial, eyes $1b BTC play via SPAC

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Crypto media personality Anthony Pompliano announced the launch of his own BTC-focused company on Nasdaq.

Michael Saylor’s Strategy may soon be getting a big competitor. On Monday, June 23, crypto podcaster and X influencer Anthony Pompliano announced the creation of ProCap Financial. The company will focus on accumulating Bitcoin (BTC) as a treasury asset, giving ordinary investors exposure to it.

Today I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial services.

The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC and Columbus Circle…

— Anthony Pompliano 🌪 (@APompliano) June 23, 2025

The company will launch through a $1 billion SPAC merger between his private firm, ProCap BTC, and the publicly traded Columbus Circle Capital Corp. So far, his company has raised $750 million in capital for its Bitcoin treasury bid.

Pompliano also confirmed that ProCap Financial will list on Nasdaq as $CCCM. Out of the $750 million raised, the firm will use $516.5 million to acquire Bitcoin reserves within 15 days of signing, in order to mitigate market risk.

Pompliano’s company to leverage the Bitcoin network

This news comes after reports earlier in July suggested that Pompliano was planning a billion dollar move. In addition to acquiring Bitcoin, ProCap Financial will also develop products that leverage Bitcoin’s network to generate profits over time.

“ProCap Financial will focus on acquiring bitcoin for its balance sheet, while also developing products and services to produce revenue and profit from the bitcoin on our balance sheet over time,” Anthony Pompliano.

In recent months, there has been a growing trend of companies adopting Bitcoin treasuries. The catalyst for the shift was the election of a pro-crypto administration in the White House. Notable examples include GameStop, 21 Capital, and Nakamoto. Collectively, 216 companies currently own nearly 31% of BTC’s supply, accounting for 765,300 bitcoins.

By far the biggest holder among them is Strategy, founded by Bitcoin maximalist Michael Saylor. His firm owns 592,345 bitcoins, worth more than $60 billion. In an X reply to the announcement, Saylor congratulated Pompliano on the move.





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