The growing of dark money in SPACs and NTFs and a warning to investors
Recent headlines of billions of dollars exchanging hands so far this year thanks to the latest creation in financial ingenuity. SPACs, special purpose acquisition companies, and NTFs, non-fungible tokens, were responsible for raising $156b and $338m, respectively. Large sums these days don’t make news but the way in which these transactions occur are a signal of things to come and a warning to investors who practice the status-quo. SPACs are “blank cheque” companies built for