The Latest SPAC News and Rumors: April 6, 2023

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

Latest SPAC News: Chamath Palihapitiya says higher rates have created ‘wave of destruction’ and DigiAsia Bios looks to expand abroad post SPAC merger

SPAC king Chamath Palihapitiya says higher rates have created ‘wave of destruction’ across whole sectors

Higher interest rates are sowing chaos across businesses and whole sectors of the market, according to “SPAC king” Chamath Palihapitiya.

In an annual letter to investors on Tuesday, the Social Capital CEO leveled more criticism at the Federal Reserve over its aggressive rate hikes over the past year. The policy move has weighed heavily on risk assets, and helped burst the bubble in so-called blank-check firms that Palihapitiya rode during the pandemic boom of 2020 and 2021.

Indonesia-focused DigiAsia Bios looking to set foot abroad post SPAC merger

Indonesian B2B fintech startup DigiAsia Bios is gearing up to expand to other Southeast Asian countries with similar demographics and regulations, including Vietnam, Cambodia, and the Philippines, after its combination with a SPAC and Nasdaq listing this year, a senior executive said.

The company plans to complete the business combination with StoneBridge (NASDAQ:APAC) this April and raise around $200M.