$BTC

Old Glory Bank, a U.S. crypto-friendly bank, plans to go public via a SPAC merger with Digital Asset Acquisition Corp.

Valuation: ~$250 million

Capital Structure:

$176M from SPAC trust

≥$50M from PIPE (private investment)

Planned Ticker: OGB on Nasdaq

💡 Why This Matters

Crypto–Banking Convergence

Old Glory aims to fully integrate crypto assets (custody, payments, on/off-ramps) into traditional banking.

This positions it closer to a “crypto-native bank” rather than a bank that merely supports crypto clients.

Regulatory Signal

A Nasdaq listing suggests confidence in U.S. regulatory pathways for crypto-aligned financial institutions.

This could encourage other crypto-friendly banks or fintechs to pursue public listings.

SPAC Revival Angle

SPACs have struggled recently, but crypto + banking may attract renewed institutional interest if execution is strong.

⚠️ Key Risks to Watch

Regulatory pressure: U.S. banking regulators remain cautious on crypto exposure.

SPAC dilution: Redemptions could reduce actual cash raised.

Execution risk: Integrating crypto into core banking while staying compliant is complex and costly.

📊 Market Impact (Short–Mid Term)

Bullish for crypto infrastructure narrative (custody, payments, banking rails)

Neutral to mildly positive for broader crypto markets

Could benefit crypto compliance, custody, and on-chain banking plays

🧠 Bottom Line

Old Glory Bank going public is a strategic milestone for crypto-friendly banking in the U.S. If successful, it may help normalize crypto within regulated financial institutions—but regulatory execution will determine whether this becomes a blueprint or a cautionary tale.

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