TLDR:

ProCap Financial to launch with $1B in Bitcoin assets on its balance sheet.
Merger combines ProCap BTC, LLC with SPAC firm CCCM to go public on Nasdaq.
Funding led by Magnetar, Blockchain.com, and other major crypto investors.
ProCap aims to blend Bitcoin holdings with yield-generating financial strategies.

American entrepreneur Anthony Pompliano has unveiled a $1 billion merger to establish ProCap Financial, a Bitcoin-native financial services firm. 

The company will become publicly traded following a business combination with Columbus Circle Capital Corp I (CCCM), a special purpose acquisition company listed on Nasdaq. Pompliano confirmed raising over $750 million in funding, marking the largest initial capital raise for a Bitcoin treasury firm. 

With plans to acquire and manage Bitcoin assets, ProCap Financial aims to bridge institutional capital with digital currency infrastructure. The move is expected to reshape the Bitcoin finance space heading into 2026.

ProCap Financial Seeks to Create Bitcoin-Native Public Company

The new entity, ProCap Financial, will form through a merger between Pompliano’s ProCap BTC, LLC and CCCM. Following approval, the combined company will list on Nasdaq under CCCM’s current ticker. ProCap will hold up to $1 billion worth of Bitcoin on its balance sheet at launch.

Pompliano’s firm raised $516.5 million in equity and $235 million through convertible notes. According to the transaction terms, the equity was used to purchase Bitcoin, giving investors immediate exposure before the merger is finalized. 

Today I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial services.

The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC and Columbus Circle…

— Anthony Pompliano (@APompliano) June 23, 2025

The convertible notes, expected to close with the business combination, carry a zero interest rate and mature over 36 months. They are collateralized at 2x the funding amount in cash or Bitcoin.

Wall Street and Crypto Backers Fuel Funding Round

The funding round attracted participation from major institutional and crypto-native investors. Firms involved include Magnetar Capital, Parafi, Blockchain.com, FalconX, and Arrington Capital. Veteran investors such as Mark Yusko and Jason Williams also contributed.

Pompliano emphasized the platform’s role in developing revenue strategies that leverage Bitcoin holdings. He described ProCap Financial as a solution for growing demand among institutional investors seeking access to Bitcoin-focused services.

Columbus Circle Capital’s CEO, Gary Quin, noted that Pompliano’s experience and leadership were key drivers behind the merger. The goal is to create a transformative platform rooted in the Bitcoin economy while operating within a public market structure.

ProCap Financial Strategic Positioning and Forward Plans

ProCap Financial will focus on acquiring Bitcoin and using it as a revenue-generating asset. The company intends to implement risk-managed strategies to produce sustainable profits from its holdings. The business model aims to blend traditional financial services with digital asset utility.

The company plans to complete the transaction by the end of 2025, pending SEC review of its registration filing. Final terms may vary depending on Bitcoin’s market price at the time of closing. Once finalized, ProCap Financial will position itself as a key public player at the intersection of crypto and institutional finance.

Michael Saylor, executive chairman of MicroStrategy and a prominent Bitcoin advocate, congratulated Pompliano on the merger. Pompliano responded by crediting the growing global acceptance of Bitcoin and its role in reshaping financial markets. 

 

The post Anthony Pompliano Unveils $1B Bitcoin Merger to Launch ProCap Financial on Nasdaq appeared first on Blockonomi.

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Filed under: Bitcoin - @ June 23, 2025 7:19 pm