Cryptocurrency entrepreneur Anthony Pompliano is reportedly in discussions to launch a new Bitcoin investment entity aiming to raise $750 million, according to the Financial Times.
Pompliano is expected to take on the role of CEO at ProCapBTC, a Special Purpose Acquisition Company (SPAC) that plans to merge with the publicly listed blank-check firm Columbus Circle Capital 1. The SPAC is backed by investment bank Cohen & Company.
Under the proposed structure—still being finalized—ProCapBTC would raise $500 million through equity financing and an additional $250 million via convertible debt as part of the merger.
Sources told the FT that the deal could be officially announced as early as next week, though the details are not yet confirmed.
Leading Investment Bank Backs Proposed Deal
Columbus Circle Capital 1 is a blank-check company established to pursue mergers, share exchanges, asset acquisitions, reorganizations, or similar business combinations.
In May 2025, the firm raised $250 million through an initial public offering led by Cohen & Company Capital Markets (CCM), a division of JVB Financial Group, the broker-dealer arm of Cohen & Company.
Cohen & Company, a publicly traded investment bank listed on the New York Stock Exchange, focuses on broadening its capital markets and asset management services. Over the past few years, the bank has been increasingly active in the crypto and digital asset space, offering audit, tax, and advisory services for crypto assets, initial coin offerings (ICOs), decentralized finance (DeFi), non-fungible tokens (NFTs), and digital asset exchanges.
Pompliano Takes Helm of Fintech-Focused SPAC, ProCap Acquisition
The news comes on the heels of Anthony Pompliano’s leadership of ProCap Acquisition, a fintech-focused SPAC that made its Nasdaq debut in April.
Following its upsized IPO, ProCap raised $250 million in gross proceeds on May 21 by selling 25 million units at $10 each.
Since then, ProCap’s shares (PCAPU) have seen significant momentum, climbing from $10.60 on June 1 to $11.40 by Tuesday. As of Thursday, the stock closed at $11.30, according to TradingView data.
As of publication, Pompliano had not confirmed the reported SPAC merger on social media. Cointelegraph reached out to him for comment, but had not received a response by press time.
