The $250 million raise seeks to offer 25 million shares at $10 each under the ticker AEXA on the New York Stock Exchange.<\/p>\n
Palihapitiya and Trieu are betting on decentralized finance, not Bitcoin, to lead the next wave of financial innovation, focusing on solutions that bridge traditional markets with blockchain technology:<\/p>\n
\u201cWhile Mr. Palihapitiya has long been a proponent of Bitcoin as an inflation hedge and alternative to fiat currencies, we believe that the next stage of development is the increased integration between traditional finance and decentralized finance.\u201d\u00a0 The pair pointed to the success of stablecoin issuer Circle Internet Group\u2019s recent public listing,<\/a> stating it \u201cdemonstrated how decentralized finance can be used to disintermediate traditional finance intermediaries and provide clear value for customers via reduced friction.\u201d<\/p>\n The venture capitalists acknowledged the path toward mainstream acceptance<\/a> of crypto and stablecoins has \u201ctaken longer than expected,\u201d but that path \u201cnow appears to be inevitable.\u201d<\/p>\n Palihapitiya has mixed results with past SPACs<\/p>\n Palihapitiya led several high-profile SPACs during 2020 and 2021, including successful mergers involving Social Capital Suvretta Holdings I and Social Capital Hedosophia Holdings V, now operating as SoFi Technologies.<\/p>\n However, other SPACs led by Palihapitiya, such as Social Capital Suvretta Holdings II, III, and IV, were liquidated, giving him a mixed record.\u00a0<\/p>\n SPACs face challenges<\/a> because they are bound by strict time limits to find a private company to merge with, often struggle to identify companies worthy of high valuations, and operate under considerable regulatory scrutiny.<\/p>\n Palihapitiya once denounced crypto as dead in America<\/p>\n The naming of Palihapitiya\u2019s American-themed SPAC comes two years after he declared the crypto industry \u201cDead in America,\u201d pointing the finger at former SEC Chair Gary Gensler<\/a> for pursuing dozens of high-profile lawsuits against crypto firms.<\/p>\n Related: Ether ETFs smash records as crypto products see $3.75B inflows<\/a><\/p>\n Critics labeled Gensler\u2019s crackdown part of \u201cOperation Choke Point 2.0,\u201d an alleged coordinated effort by regulators to pressure banks into distancing themselves from crypto firms.<\/p>\n Many of those cases, including ones against Coinbase and Ripple, have been dismissed under the new crypto-friendly SEC led by Paul Atkins, which has also created a Crypto Task Force<\/a> to provide clearer rules while balancing innovation with consumer protection.<\/p>\n![](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/08\/0198c08a-31f3-79d9-a033-626b13746729.png\" "\\"\\"\/")
Source: Cointelegraph<\/a>Circle showed DeFi can \u2018disintermediate\u2019 TradFi, execs say<\/p>\n