Thomas Daniels
Anthony Pompliano to Lead $750 Million Bitcoin SPAC Merger with Columbus Circle: FT
Cryptocurrency entrepreneur Anthony Pompliano is reportedly in advanced discussions to spearhead a major Bitcoin investment vehicle aiming to raise $750 million, according to the Financial Times. The new venture, named ProCapBTC, will operate as a Special Purpose Acquisition Company (SPAC) and seeks to merge with Columbus Circle Capital 1, a publicly traded blank check company.
Under the prospective structure, ProCapBTC plans to secure $500 million in equity financing complemented by $250 million in convertible debt. The transaction, still under negotiation, is being structured with the backing of Cohen & Company, a publicly listed investment bank that has been increasingly active in cryptocurrency and digital asset markets.
Cohen & Company’s Strategic Role
Columbus Circle Capital 1 was established to pursue mergers, share exchanges, asset acquisitions, and other business combinations. In May 2025, it successfully raised $250 million through an initial public offering sponsored by Cohen & Company Capital Markets (CCM), a subsidiary of Cohen & Company’s broker-dealer unit, JVB Financial Group.
Cohen & Company, listed on the New York Stock Exchange, has cultivated a significant presence in the cryptocurrency sector in recent years. Its services span auditing, tax advisory, and consulting across a wide array of digital asset segments, including crypto tokens, initial coin offerings (ICOs), decentralized finance (DeFi), non-fungible tokens (NFTs), and digital exchanges.
Continuation of Pompliano’s SPAC Initiatives
The anticipated ProCapBTC initiative follows Pompliano’s recent leadership role at ProCap Acquisition, another fintech-oriented SPAC which debuted on Nasdaq in April. ProCap Acquisition raised $250 million during its upsized IPO on May 21, selling 25 million units at $10 each.
Since its market debut, ProCap Acquisition’s shares (NASDAQ: PCAPU) have demonstrated notable momentum, climbing from $10.60 on June 1 to $11.40 earlier this week. The stock closed at $11.30 on Thursday, according to TradingView data.
As of publication, Pompliano has not publicly confirmed the reported merger talks via his social media platforms. Attempts by Cointelegraph to reach Pompliano for comment have not yet elicited a response.
