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News

Coincheck’s Plan To List In The US Backdoor Extends The Deadline

June 1, 2023 - Around 3 mins mins to read

Key Points:

  • Coincheck’s intentions for a Nasdaq listing have been hampered by unanticipated events, which have caused delays in the listing process.
  • The Thunder Bridge board thinks that the merger will not be completed before the July 2 date.
  • Meanwhile, Tradecurve is working toward a possible listing on a top-tier centralized exchange.
Thunder Bridge Capital Partners IV (THCP), a US special purpose acquisition company (SPAC), stated that in response to the ongoing registration review process of the US Securities and Exchange Commission (SEC), it had submitted proxy statements, including a proposal to revise and extend the deadline for the merger with the Japanese crypto exchange Coincheck by one year, subject to shareholder approval of the extension proposal at the THCP general meeting.
Coincheck's Plan To List In The US Backdoor Extends The Deadline

Coincheck’s intentions to list on Nasdaq via a merger with SPAC Thunder Bridge Capital Partners IV is said to be postponed further.

Thunder Bridge’s board of directors feels there will not be enough time to complete the merger before the July 2 deadline. It proposed extending the deadline by up to 12 months, subject to shareholder approval.

Mergers with SPACs have been a popular way for corporations to go public in recent years; however, numerous such planned transactions have been delayed or canceled in the previous year.

Although Coincheck is unlikely to be listed on the Nasdaq, Tradecurve has emerged as an intriguing candidate for a listing on a top-tier CEX. Tradecurve, unlike other platforms like Binance and eToro, will prioritize privacy. As the initiative gets traction, conversations about listing it on a major CEX have heated up. The combination of Tradecurve’s decentralized structure and interesting features lays the groundwork for a listing that might boost the project’s development and awareness even further.

Coincheck's Plan To List In The US Backdoor Extends The Deadline

THCP President and Chief Executive Officer Gary Simanson stated:

“As the process for our proposed business combination with Coincheck Group has progressed, it has also enabled us to build a strong working relationship with Oki Matsumoto and his team. Their commitment to professionalism, doing things the right way, and prudently managing the short-term, while also building and managing for the long-term, are the traits and characteristics that were clearly evident when we first evaluated the opportunity to combine our companies. How Oki and his team have conducted themselves the past 16 months strongly re-affirms our view and findings from when we initially conducted due diligence last year that they are an excellent business partner.

In terms of features, Tradecurve has a number of distinguishing characteristics that will give it a competitive advantage. Negative balance protection, high leverage beginning at 500:1, metaverse trading school, and copy trading, which allows novices to subscribe to other traders and duplicate their trades, are just a few of the features available. Moreover, Tradecurve will deploy its Proof of Reserves (PoR) following its debut, ensuring a transparent environment.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.