Bitcoin treasury firm BSTR renegotiating merger terms with SPAC

Adam Back's Bitcoin Standard Treasury (BSTR) is renegotiating its merger terms with special-purpose acquisition company (SPAC) Cantor Equity Partners (CEPO), Bloomberg reported. The decision follows a downturn in investor sentiment toward Bitcoin treasury companies amid the recent crypto market slump. CEPO stated that it will not proceed with the merger agreement signed last year and will instead pursue a revised deal that better reflects current market conditions. The financial terms and timeline for the new agreement have not been disclosed. CoinNess previously reported that a shareholder vote on the merger had been postponed to July 2. Upon completion of the merger, BSTR is expected to be listed on Nasdaq and will launch as a Bitcoin treasury company holding 30,021 BTC.