On January 13, Bloomberg reported that crypto-friendly bank Old Glory Bank announced it would go public through a merger with blank check company Digital Asset Acquisition Corp.
Old Glory, originating in Oklahoma, USA, is a traditional banking institution that underwent a rebranding and transformation into a digital bank in 2022. The bank stated that it plans to fully integrate cryptocurrency into its lending, deposit, and investment product offerings in the future.
The report states that Old Glory has close ties with several right-wing American politicians, and this IPO is seen as a landmark event marking a further convergence of crypto finance and political power.
