eToro and FinTech Acquisition Corp Terminate Merger Deal

FinTech Acquisition Corp. V and eToro announced on Tuesday that both parties mutually agreed to terminate their announced agreement and merger plan effective immediately.

According to the press release, it was announced in March 2021 that the proposed merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term could close if certain conditions were met, including those relating to the company’s registration statement, within the timeframes specified in the Merger Agreement and as extended in the Merger Agreement Amendment.

However, the parties were unable to meet such conditions within such a timeframe, and the transaction was not completed by June 30, 2022. As a result of the mutual termination of the Merger Agreement, neither party will be liable to pay the other a termination fee.

Comments from Yoni Assia

“In the current market environment, we believe that it is in the best interests of eToro to terminate the merger agreement and continue, for now, to operate as a private company. I would like to thank Betsy Cohen and the entire FinTech V team for their hard work, diligence and support throughout this process,” Yoni Assia, eToro’s Co-Founder and CEO, commented.

Betsy Cohen, the Chairman of FinTech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term V, added: “eToro continues to be the leading global social investment platform, with a proven track record of growth and strong momentum. Although we are disappointed that the transaction has been rendered impracticable due to circumstances outside of either party’s control, we wish Yoni and his talented team continued success.”

Additionally, Assia highlighted that the current bear market presents an opportunity for the company to double down its efforts in educating its users to handle risk through these complicated times. “This is not our first bear market or our first crypto winter. Over the past 15 years, we have weathered many market cycles, emerging stronger from the experience. Our global footprint, diverse product offering and social capabilities mean that we are well-positioned for future growth,” he added.