Should I buy FPAC SPAC stock based on the bullish merger rumors?

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""SPAC Stock"" – Google News

On June 23, Bloomberg reported that FPAC is in talks to bring Bullish to the public. Bullish is a cryptocurrency exchange backed by billionaires Peter Thiel and Richard Li. The transaction between FPAC and Bullish could also include a PIPE (private investment in public equity) worth hundreds of millions of dollars. A merger could be announced in the next few weeks.

In May, Bullish was launched by a blockchain software company Block.one. The software company injected Bullish with $ 10 billion in digital assets and cash, including 164,000 bitcoins. The start took place shortly after the listing of the largest US crypto exchange Coinbase. The decline in cryptocurrency prices has reduced the value of the assets Bullish holds. China’s regulatory scrutiny of cryptocurrencies and other events, such as the non-acceptance of Bitcoin due to Tesla energy consumption concerns, have hurt investor sentiment.

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