Coincheck Group, parent of Coincheck, will start trading on Nasdaq on 11th December. The completion of the merger between Thunder Bridge Capital and Coincheck Group, completed earlier in December, is a milestone that follows.
Both companies Thunder Bridge’s shareholders approved a merger on the 5th of December during an extraordinary meeting. The deal was completed on 10 Dec. As a result, Coincheck’s shares and warrants will trade under the tickers CNCK and CNCKW, respectively.
Oki Matsumoto, Executive Chairman of Coincheck and Representative Executive Officer of Monex Group, attributed the firm’s success to its foundation in Japan and its strategic utilization of US capital markets.
He said:
“Coincheck was created through the fusion of a robust business foundation built in Japan, combined with the strengths of the US capital markets through the close collaboration of exceptional business and capital markets talent in both Japan and the US.”
These funds include capital held in restricted accounts as stipulated by the agreement. This includes capital in accounts restricted by agreement. The transaction was advised by prominent firms, including Galaxy Digital JP Morgan Cantor Fitzgerald and Barclays Capital.
Market Consequences
Coincheck’s Nasdaq listing marks a significant moment for the US crypto market. This is the second dedicated crypto-exchange in the US to be publicly listed after Coinbase.
VanEck’s head of research, Mathew Sigel, emphasized the importance of this development, noting that Coincheck is Japan’s second-largest crypto exchange.
He also highlighted the company’s resilience, referencing its recovery from a 2018 hack that resulted in losses of $530 million, which the company repaid using its capital.
This development is seen by market observers as an indication of the growing acceptance of crypto in the US. As Donald Trump prepares to assume office, some anticipate that the regulatory environment will be more favorable for digital currencies.
The predictions hope for a new administration that will introduce policies encouraging innovation and reduce enforcement.
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