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ProCap BTC Closes SPAC Merger As Bitcoin Treasury Firms Struggle

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ProCap BTC Closes SPAC Merger As Bitcoin Treasury Firms Struggle
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Bitcoin-focused treasury company ProCap BTC, led by Anthony Pompliano, has completed its merger with special purpose acquisition company Columbus Circle Capital (BRR).

The combined entity, renamed ProCap Financial, will begin trading on the Nasdaq under the BRR ticker starting Monday.

Despite the milestone, shares plunged more than 50% this week as investor confidence in SPAC-driven bitcoin treasury companies remains weak.

Many similar firms formed hastily during the bull market have suffered major declines, with several—such as KindlyMD (NAKA) and Strive (ASST)—now trading below $1.

The sector’s performance highlights the challenges facing BTC-centric corporate treasury models.

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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