The SPAC Podcast: Special Purpose Acquisition Company

The Crypto-SPAC Convergence and What’s Next

Joshua Wilson

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In this episode of The SPAC Podcast, Louis Camhi breaks down the evolving relationship between SPACs and the crypto space and where investor attention is shifting next. He highlights recent high-profile transactions, including Cantor Fitzgerald’s CEP deal, which gave investors exposure to Bitcoin through a listed equity vehicle.

Louis also points out that while digital asset treasury models initially gained traction, the market is starting to shift. Investors are now looking for operating crypto businesses with real cash flow, not just token exposure. With new SPAC sponsors entering the market from crypto-native backgrounds, Louis sees strong potential but reminds listeners that the “blind pool” nature of SPACs means execution is everything.

Connect with the Guest:

Louis Camhi – SPAC Investor & Fund Manager

LinkedIn: https://www.linkedin.com/in/louis-camhi-aa3464b/

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https://www.thespacpodcast.com/guests/louis-camhi/


Connect with the Hosts & The SPAC Podcast:

Michael Blankenship LinkedIn:

https://www.linkedin.com/in/mikeblankenship/

Joshua Wilson LinkedIn:

https://www.linkedin.com/in/joshuabrucewilson/

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#SPACs #Crypto #DigitalAssets #SPACPodcast #CapitalMarkets #Bitcoin #DeSPAC

The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. This content is for informational purposes only and should not be construed as investment, legal, tax, or accounting advice.



Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services. Let's 

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Michael Blankenship:

So you mentioned crypto can you discuss the intersection between crypto and SPACs?

Louis Camhi:

Sure. One of the most successful recently announced SPAC transactions is CEP, led by Cantor Fitzgerald. The stock is currently trading at $25. The pro forma company is effectively a digital asset treasury, with a large position in Bitcoin. So for bullish investors looking for exposure, this is an equity security that can potentially offer that with added capital flexibility via convertibles, ATMs, etc.

Since then, we’ve seen more SPAC activity in the space. Anthony Pompliano launched a similar vehicle (ticker: BRR), and Cantor’s second SPAC (CEPO) followed suit. Other SPACs like Dynamics and MBAV have also entered the conversation. The theme is resonating, but we’re also starting to see fatigue around pure treasury-style plays.

Investors are signaling that they now want real crypto businesses operating companies with revenue, structure, and cash flows not just vehicles to hold tokens. We’re also seeing a wave of crypto-native SPAC sponsors enter the market. Whether they deliver depends on the execution, but it’s an exciting moment for crypto-SPAC convergence.