ProCap Financial Raises Over $750 Million and Plans to Go Public via SPAC Merger

ProCap Financial, backed by cryptocurrency investor Anthony Pompliano, has announced the completion of over $750 million in fundraising (including $235 million in convertible bonds) and will go public through a Special Purpose Acquisition Company (SPAC) established in partnership with Columbus Circle Capital Corp. I. The company aims to hold up to $1 billion worth of Bitcoin on its balance sheet and generate revenue through a full-stack, Bitcoin-denominated financial services platform.