Israel's eToro, Betsy Cohen-backed SPAC terminate $8.8b SPAC deal

Israel's eToro, Betsy Cohen-backed SPAC terminate $8.8b SPAC deal

Website: eToro

Israel’s online brokerage eToro and Betsy Cohen-backed blank-check company FinTech Acquisition Corp have mutually agreed to terminate their merger deal more than a year after it was announced, the companies said on Tuesday.

Decades-high inflation and worries over a recession have drained US markets and dried up new stock listings, as the Federal Reserve continues with aggressive rate hikes to tame sky-high prices.

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