Crypto-Friendly Bank Old Glory to Go Public via SPAC

BlockBeats News, January 13th, according to Bloomberg, crypto-friendly bank Old Glory Bank announced that it will go public through a merger with blank-check company Digital Asset Acquisition Corp.

Old Glory, originated in Oklahoma, USA, is a traditional banking institution that completed a rebranding in 2022 to transform into a digital bank. The bank stated that it plans to fully integrate cryptocurrency into its lending, deposit, and investment products in the future.

Reports indicate that Old Glory has close ties to several US right-wing political figures, and this IPO is seen as a landmark event where crypto finance intersects further with political influence.