News

Foresight News reported that the special purpose acquisition company Mercer Park Opportunities Corp. (Toronto Stock Exchange code: SPAC.U) announced it has signed a definitive business combination agreement with Cube Group, Inc., an innovative company in the hybrid digital asset trading sector. This transaction values Cube at $300 million, and upon receiving regulatory approval, is expected to create a publicly listed entity. The entity plans to acquire a reserve of Solana tokens (SOL) worth $500 million prior to the completion of the transaction, in order to enhance liquidity, yield generation, and long-term value creation. After the transaction is completed, the merged company will operate under the name Cube Exchange Inc. The transaction is subject to approval by the Toronto Stock Exchange. Mercer Park has also agreed to use reasonable efforts to promptly seek a dual listing on Nasdaq following the completion of the transaction. Mercer Park expects the transaction to be completed in the first quarter of 2026.

Foresight News reported, according to Fortune, that payment infrastructure company Modern Treasury, valued at $2.1 billions, has acquired stablecoin startup Beam. Sources revealed that the acquisition is an all-stock deal worth approximately $40 millions. As part of the transaction, Beam’s founders will join Modern Treasury and help lead the company’s expansion into the stablecoin payments sector. Founded in 2022, Beam provides software for banks and other enterprises to send and receive stablecoins (cryptocurrencies pegged to underlying assets such as the US dollar).