​​Crypto Investor Ribbit Files USD 350m IPO, Set for Possible Mergers

Aiming for potential future mergers with related companies, Ribbit LEAP, a newly-formed business offshoot from early bitcoin (BTC) venture capital firm Ribbit Capital, has filed for a USD 350 million Initial Public Offering (IPO) with the US Securities and Exchange Commission (SEC).

The IPO filing revealed that Ribbit is offering 35 million units at an offering price of USD 10 per unit.

Furthermore, the filing said, Ribbit LEAP "is a newly incorporated blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to as our initial business combination."

No such partner has been selected yet,"nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination partner," the company said.

Therefore, this is a Special Purpose Acquisition Company (SPAC) - one without a pre-existing operation but with plans to go public, aiming to acquire or merge with another company through the proceeds of the SPAC's initial public offering.

“We view partnership with management teams as a commitment for a decade or more,” Ribbit LEAP wrote in the filing. “Because of this we are focused on long-term value creation, and we seek to partner with investors with the same orientation.”

Without much known about Ribbit LEAP, expectations are that the newly public firm will conduct business similar to Ribbit Capital, which is a major investor in Coinbase, Chainalysis, Robinhood, as well as other cryptocurrency-based firms, as Forbes noted.

Investment banking giant JPMorgan Chase and Co was listed as the sole underwriter of the IPO, and Ribbit plans to apply for listing on the New York Stock Exchange (NYSE), the article added.

Ribbit Capital is also credited as a founding member of Facebook’s Libra Association, bolstering its involvement in the cryptoverse.

Meanwhile, as reported, talks of a Ripple IPO made the rounds yet again back in January. In July, Coinbase was said to be preparing to list its shares on a stock exchange this year or early next year, while exploring going public via a direct listing.

@CryptoWorldTina

​​#Bitcoin Asymmetric Return

Last 10 years (2011-2020):
- 2 years negative return (2014, 2018)
- 3 years +25% -> +100% return (2015, 2019, 2020)
- 5 years >100% return (of which 3 yrs >1000% return!)

@CryptoWorldTina

​​SRM first breakout alert 📈

their DEX is launching soon - rumors say 10$ is coming..

if you play that - make sure to check our BTC updates.

@CryptoWorldTina

⁠Baseline Protocol brightens horizons for Ethereum enterprise adoption

Baseline Protocol’s v0.1 release will help drive enterprise Ethereum adoption via data integrity, but challenges persist

​​SelfKey: “There may be rumors as to our potential future plans of a second governance token. At this point, there is an idea, for which SelfKey needs your feedback!”

@CryptoWorldTina

​​TRB +20% 📈

you guys are whales - didn't even manage to get some.

@CryptoWorldTina

​​#BTC #Bitcoin #Dominance

BTC Dominance broke out 61.61 resistance and previous highs. Next ~62.14. Keep in mind all these numbers are approximate, as dominance is calculated by TradingView and often show crazy wicks they later fix.

@CryptoWorldTina

​​#ENG tweet news (Mainnet on September 15th)

@CryptoWorldTina

​​$STORJ +277%

@CryptoWorldTina

​​It seems that nothing can stop #YFI on its way upwards. The target for holders is $25760 was reached for now.

@CryptoWorldTina

​​Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of ... $20M

@CryptoWorldTina

​​#NWC📈

The coin is heading up to the second target, at the moment it is in +25% profit from our entry point. Continue holding it.

@CryptoWorldTina

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📈 Market Overview

After forming a support base above $11,400 and $11,200, Bitcoin price started a fresh increase. BTC broke the main $11,500 hurdle and the 100 hourly SMA to move into a positive zone.

It even surpassed the $11,650 level and traded as high as $11,731. The price is currently consolidating gains and trading near the $11,680 level. Moreover, there is a major ascending channel forming with support near $11,650 on the hourly chart.

Ethereum climbed over 4% and surpassed the $420 resistance level. A high is formed near $430 and it's now trading well above the 100 hourly SMA.

Market capitalization: $395.22B (-0.63%)
The BTC dominance: 54.59% (+1.26%)
Fear & Greed Index: 75 (Greed)

👉 Top Gainers

Arcblock (ABT) +63.48%
Fantom (FTM) +48.55%
UMA (UMA) +47.00%

👉 Top Losers

Genesis Vision (GVT) -26.50%
DIA Token (DIA) -13.93%
Loom Network (LOOM) -12.63%

BTC Futures

Aggregated Volume — $6.00B
Aggregated Open Interest — $4.00B

🎯 NEO pretty much reached the breakout target of the ascending triangle

Profit 17%

Total value locked in #DeFi is surpassed $7.5B with Aave dominance nearly 21%

#FTM Big News