What Comes Next for Crypto Treasury SPACs? Vik Mittal and Ivan Deryugin Weigh In

This week, on a special edition of the SPACInsider Podcast, we speak with Vik Mittal, managing member of Meteora Capital and Ivan Deryugin, head of research for the Americas at United First Partners. Together we discuss why the digital asset treasury strategy quickly turned from a SPAC-favorite play to falling out of favor over the past year. Ivan gets into the numbers on how some of these deals have become misaligned, particularly as crypto prices dropped. Vik shares his perspective as a both a PIPE investor in some of these transactions and as a SPAC sponsor searching in the space. What is to become of these pending deals, and how might SPACs play in the crypto space next? --------- Disclaimer: This podcast includes discussions of cryptocurrency, digital assets, special purpose acquisition companies (“SPACs”), and other publicly traded securities. Mr. Mittal participates in this podcast in his capacity as a portfolio manager at Meteora Capital Partners, LP (“Meteora”). Mr. Deryugin participates in this podcast in his capacity as a research analyst at United First Partners, LLC (“UFP”), a broker-dealer registered with FINRA (CRD # 155456). All statements, examples, scenarios, tickers, and transactions referenced by Mr. Mittal and Mr. Deryugin are hypothetical in nature and are provided solely for general informational and discussion purposes. Nothing discussed should be relied upon as fact, forecast, recommendation, or commitment. Nothing in this podcast constitutes financial, investment, legal, tax, or accounting advice, nor is it a recommendation, offer, or solicitation to buy or sell any security, digital asset, or financial instrument. Cryptocurrency and digital asset markets are highly volatile, speculative, and carry significant risk, including the risk of total loss. SPAC and equity investments likewise carry substantial risk. All opinions expressed by Mr. Mittal and Mr. Deryugin are their own and do not necessarily reflect the views of Meteora, UFP, or their respective affiliates. Any references to specific companies, tickers, or transactions are illustrative only and should not be interpreted as investment advice or solicitations. Meteora and its affiliates, employees, and managed funds may hold long or short positions in any securities, digital assets, or financial instruments discussed, and may buy, sell, or otherwise change such positions at any time without notice. UFP does not hold proprietary positions in the securities or digital assets discussed and may from time to time act as agent or facilitator on behalf of institutional clients in connection with securities referenced herein. Past performance is not indicative of future results. Forward-looking statements are inherently uncertain and actual outcomes may differ materially from those discussed. Listeners should conduct their own independent research and consult a licensed financial, legal, and tax professional before making any investment decision.