Crypto Influencer Pomp's ProCap BTC Faces Hurdles in Going Public Amid Market Meltdown

Anthony "Pomp" Pompliano's Bitcoin treasury firm, ProCap BTC, is facing opposition from activist investor Glazer Capital, which has disclosed a 7.7% stake in the SPAC firm Columbus Circle Capital Corp. I and plans to vote against the merger "in its present form." Glazer Capital believes the proposed business combination is not in the best interests of public shareholders, citing concerns over compensation for sponsors and transaction-related fees. The move highlights a more cautious approach to SPACs, which had been a popular way for companies to go public, especially in the crypto market.