The Latest SPAC News and Rumors: March 22, 2022


The Latest SPAC News and Rumors: March 22, 2022


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: SoFi launches new cryptocurrency feature and Forge debuts on NYSE, posing fresh test to SPAC-led exits

SoFi Launches No-Fee Cryptocurrency Purchases for Direct Deposit Members

SoFi Technologies, Inc. (NASDAQ:SOFI), the digital personal finance company, today announced members will now be able to invest part of every direct deposit into cryptocurrency with zero fees. This feature builds on SoFi’s robust offerings for Checking and Savings accounts, which already includes no account or overdraft fees, up to two-day early paycheck and an industry-leading 1.00% annual percentage yield (APY).

Members will be able to set a recurring purchase for the cryptocurrency of their choice with each paycheck for no purchase fee, investing either by dollar amount or percentage of their deposit, into one of 30 coins.

Social Capital Hedosophia Holdings Corp. V completed its combination with fintech platform SoFi on May 28, 2021.


Forge’s Public Debut Today Will Pose Fresh Test to SPAC-Led Exits

Forge Global (NYSE:FRGE) will begin to trade on the New York Stock Exchange today, having completed its merger with Motive Capital Corp as part of a SPAC combination.

The company’s combination and flotation will provide a data point regarding market appetite for such deals, and the company’s stock price will also reflect, to some degree, the level of investor optimism in other companies not going public.