As we’ve seen, essentially anyone can raise a special purpose acquisition company these days. Tidjane Thiam isn’t just anyone, but thanks to the blank-check frenzy, he’s also no longer just the former CEO of Credit Suisse.

Ex-Credit Suisse Group Inc. Chief Executive Officer Tidjane Thiam is planning a $250 million vehicle to invest in financial services in developed and emerging markets…. The special purpose acquisition vehicle will be listed in New York…. JPMorgan Chase & Co. is helping with the fundraising, the person said.

What, no room for corporate espionage in the portfolio?

Anyway, SPACs aren’t only good for getting the currently unemployed off the street. They’re also nice for the soon-to-be-unemployed, especially those who still own a chunk of the cryptocurrency business they founded at their husband’s company before their almost impossibly unsuccessful year and a few days on Capitol Hill.

Intercontinental Exchange--owned Bakkt said on Monday it has agreed to go public through a merger with blank-check firm VPC Impact Acquisition Holdings…. The deal is expected to provide Bakkt, founded by outgoing Georgia Senator Kelly Loeffler and backed by Microsoft and Boston Consulting Group….

And while the money will be nice, Jeff Sprecher is still going to have to find something for his wife to do.

A Bakkt spokeswoman said Loeffler will not return to the company.

Credit Suisse’s Former CEO Thiam to Start Black-Check Firm [Bloomberg]
Crypto exchange Bakkt to go public via a $2.1 billion deal with blank-check firm [CNBC]
Loeffler’s old Bitcoin platform going public [AJC]


By World Economic Forum from Cologny, Switzerland [CC BY-SA 2.0], via Wikimedia Commons

Is Anyone At Credit Suisse Not Under Surveillance?

A bit of extra vigilance might be in order, and will probably be enough to catch the hapless rent-a-cops in Tidjane Thiam’s employ.

By World Economic Forum from Cologny, Switzerland [CC BY-SA 2.0], via Wikimedia Commons

Credit Suisse CEO Definitely Had No Idea His No. 2 Was Tailing His Turncoat Former Protégé, No Sir

Surprise! Tidjane Thiam’s been cleared by his bank’s probe into some Big Lebowski-esque private investigating.


Maybe SPAC’s Shouldn’t Just Be A Cash Machine For Sponsors?

You’re not gonna like it, but given how things are going for blank-check companies, IPOs, and NFTs, hear ARS out.