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Crypto-friendly bank Old Glory will go public through a SPAC merger
On January 13, according to Bloomberg, crypto-friendly bank Old Glory Bank announced that it will go public through a merger with blank check company Digital Asset Acquisition Corp. Old Glory originated in Oklahoma, USA, and is a traditional banking institution that completed a rebranding in 2022 to transform into a digital bank. The bank stated that it plans to fully integrate cryptocurrencies into its loan, deposit, and investment product systems in the future. The report also mentioned that Old Glory has close ties with several right-wing American politicians, and this listing is seen as a landmark event marking further convergence between crypto finance and political forces.