According to a report by the Financial Times on June 13, cryptocurrency entrepreneur Anthony Pompliano is negotiating to launch a new Bitcoin purchasing tool, which plans to raise $750 million.
The report states that Pompliano is expected to serve as the CEO of ProCapBTC. ProCapBTC is a special purpose acquisition company (SPAC) that plans to merge with the publicly listed blank check company Columbus Circle Capital 1.
Under Pompliano's leadership (which is still under discussion), ProCapBTC will seek to raise $500 million in equity financing and $250 million in convertible debt through the merger with Columbus Circle Capital 1. The merger is supported by investment bank Cohen & Company.
According to sources from the Financial Times, the ProCapBTC deal could be announced as early as next week, but specific terms have not yet been finalized.
Large investment banks involved in the deal
Columbus Circle Capital 1 is a blank check company established for the purpose of merging with one or more businesses, exchanging shares, acquiring assets, restructuring, or other similar business integrations.
In May 2025, Columbus Circle raised $250 million in an initial public offering sponsored by Cohen & Company Capital Markets (a division of Cohen & Company’s brokerage subsidiary JVB Financial Group).
Cohen & Company is an investment bank listed on the New York Stock Exchange, focusing on expanding the scope of capital markets and asset management services.
In recent years, the bank has been very active in the cryptocurrency and digital asset industry, providing audit, tax, and consulting services related to crypto assets, initial coin offerings (ICOs), decentralized finance (DeFi), non-fungible tokens (NFTs), and digital asset exchanges.
Pompliano at the helm of the fintech-focused SPAC—ProCap Acquisition
This news follows the movements of another fintech SPAC led by Pompliano—ProCap Acquisition. The company went public on Nasdaq in April.
ProCap's stock code is PCAPU, and its scaled-up IPO was completed on May 21, issuing 25 million units at a price of $10 per unit, raising a total of $250 million.
According to TradingView data, PCAPU's stock price performed strongly in June, rising from $10.6 on June 1 to $11.4 on June 10, closing at $11.3 on June 13.
As of the time of publication, Pompliano has not confirmed the reports regarding the SPAC merger on social media. Cointelegraph reached out to Pompliano for comment on the merger but had not received a response by the time of publication.
Related: The Polkadot community has disagreements over the sale of 500,000 DOT for Bitcoin (BTC) reserves.
Original article: “Financial Times: Anthony Pompliano to lead the formation of a new Bitcoin (BTC) purchasing team, plans to raise $750 million”
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