Adam Back's BSTR scraps SPAC merger, seeks new deal
CoinDesk·
60-second summary
Adam Back's blockchain company BSTR is scrapping its SPAC merger with Cantor Equity Partners, citing a postponed shareholder vote indefinitely. The original deal was set to close in July 2025. BSTR is now seeking a new deal, leaving investors uncertain about the company's future and potentially impacting the broader blockchain and cryptocurrency market.
BSTR and Cantor Equity Partners will not complete their merger under the original July 2025 agreement, with the shareholder postponed indefinitely.