Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a new Bitcoin-buying vehicle that will seek to raise $750 million.
Pompliano is expected to become CEO of ProCapBTC, a Special Purpose Acquisition Company (SPAC) that is set to merge with the publicly traded blank cheque vehicle Columbus Circle Capital 1, the Financial Times reported on June 13.
Under Pompliano’s leadership, which is still under discussion, ProCapBTC would seek to raise $500 million in equity and $250 million in convertible debt as part of a merger with Columbus Circle Capital 1, backed by the Cohen & Company investment bank.
According to the FT’s sources, the ProCapBTC deal could potentially be announced as soon as next week, but its terms are not yet finalized.
Major investment bank behind the deal
Columbus Circle Capital 1 is a blank check company formed with the purpose of effecting a merger, share exchange and purchase, asset acquisition, reorganization or similar business combination with one or more businesses.
In May 2025, Columbus Circle raised $250 million in an initial public offering sponsored by Cohen & Company Capital Markets (CCM), a division of Cohen & Company’s broker-dealer subsidiary, JVB Financial Group.
Cohen & Company is a publicly traded investment bank trading on the New York Stock Exchange, focused on expanding the range of capital markets and asset management services.
The bank has been active in the crypto and digital asset industry over the past few years, providing audits, tax and advisory services related to crypto assets, initial coin offerings, decentralized finance, non-fungible tokens and digital asset exchanges.
Pompliano leads fintech-focused SPAC, ProCap Acquisition
The news follows Pompliano’s leadership of ProCap Acquisition, a fintech-focused SPAC that debuted on the Nasdaq in April.
ProCap’s shares (PCAPU) started trading soon after its upsized IPO closed on May 21, raising $250 million in gross proceeds through the sale of 25 million units at $10 per unit.
PCAPU shares have seen a notable spike in June, surging from $10.6 on June 1 to $11.4 on June 10. The stock closed at $11.3 on June 13, according to data from TradingView.
Pompliano did not confirm the reported SPAC merger on social media by publishing time. Cointelegraph approached Pompliano for comment regarding the merger but did not receive a response at the time of publication.
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