Crypto-focused SPACs are outperforming their peers

The stock performance of companies that go public via SPACs have been abysmal. But three crypto firms that took this route have been bucking the trend. Core Scientific Inc, one of north America’s largest bitcoin miners which premiered on Jan 20, rose 1.5% through Wednesday.

NEW YORK: Going public through a blank-cheque company is a bet that seems to have paid off only for crypto companies so far this year.

Monex Group’s Coincheck Inc was the latest to agree to a reverse-merger with a special purpose acquisition company (SPAC), making it the 10th crypto firm to announce such a deal since last year.