eToro Abandons Stock Market Deal as Merger with SPAC Falls Through | CoinMarketCap

"eToro's underlying business remains healthy, our balance sheet is strong and will continue to balance future growth with profitability," the company says.The exchange was due to merge with a special purpose acquisition company — otherwise known as a SPAC — called FinTech Acquisition Corp. V.

FinTech V's chairman Betsy Cohen said she was "disappointed" that the deal couldn't go ahead — and said this was because of factors that were outside of their control. Wishing the exchange continued success, she added: "While this may not be the outcome that we hoped for when we started this process, eToro's underlying business remains healthy, our balance sheet is strong and will continue to balance future growth with profitability."

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