Cryptocurrency Wealth Management Platform
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Merging with SPAC for Nasdaq listing
Abra, a cryptocurrency wealth management platform that paid more than $83 million in regulatory settlements over the past two years, announced a $750 million merger with a blank-check company to list on Nasdaq. The deal with New Providence Acquisition Corp. III would deliver up to $300 million in cash to fund expansion of Abra's institutional lending, yield, and custody business—now the company's sole focus after it shut down its retail operations amid enforcement actions.
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