By Lewis – Bitcoin Enthusiast - 04-11-2021
Brooklyn Nets Basketball star, Kevin Durant has been busy working in the crypto industry to open up a new blockchain firm, SPAC. The two-time NBA champion has built SPAC, also known as the Special Purpose Acquisition Company, along with his associate Rich Kleiman. The founders Kleiman and Durant had initially created SPAC to specifically collaborate with businesses that are driven by innovative technology. One type of business that Durant looks to partner with are within the crypto industry.
Durant is known for previously supporting cryptocurrency exchange platforms such as Coinbase and wishes to further step into the field of crypto. Reportedly, the NBA player’s firm is already looking into investing in cryptocurrency and other similar assets and ventures. SPAC firms are typically known as “blank check” companies as they are usually created with the intention to merge or partner with other private businesses. By merging with other private businesses before going public, it helps the companies avoid meeting the requirements for an IPO.
According to the company’s SEC filings, the SPAC firm has plans to start a funding round to raise $200 million for its public offering. Furthermore, the information in the SEC filing detailed cryptocurrency trading platforms Coinbase and Kraken with the interest to invest in BlockFi, Ledger, and Axie Infinity. The filings stated that the SPAC firm has been looking into other types of businesses besides blockchain and cryptocurrency, this includes sports, e-commerce, health and wellness, and more.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards