The SPAC King is back, in another sign of how the riskiest corners of financial markets are booming since Donald Trump returned to the presidency https://t.co/dLUI3KUqA4 ...

Investment Focus - Chamath Palihapitiya seeks to raise $250 million for a new SPAC vehicle [1] - The SPAC will invest in AI (人工智能), DeFi (去中心化金融), defense (国防), or energy (能源) sectors [1] Vehicle Name - The investment vehicle is named "American Exceptionalism" [1]

Market Commentary - Traditional finance is likened to memecoins with suits, suggesting a high degree of speculation and risk [1] - Chamath's SPAC explicitly states "no crying in the casino," highlighting the speculative nature of SPAC investments [1]

🚨NEW: Billionaire VC investor Chamath files for a $250M SPAC called “American Exceptionalism Acquisition Corp. A” targeting energy production, AI, DeFi and defense. https://t.co/occ3l0jdSM ...

chamath launching a spac and holding defi tokensexit all markets ...

Chamath's new $250M SPAC will include DeFi along with Energy, AI and DefenseOh boyAggr News (@AggrNews):"AMERICAN EXCEPTIONALISM" SPAC BY CHAMATH TO TARGET DEFI AMONG FOUR AREAS: FILING https://t.co/yAv6rhNjNC ...

🚨 NEW: Joe McCann’s $1.5B Solana treasury SPAC cancelled after his Asymmetric fund plunged nearly 80% YTD. https://t.co/qiaqP1ngge ...

Merger & Funding - Parataxis Holdings is merging with SilverBox Corp IV via a SPAC deal to establish a publicly listed Bitcoin treasury company [1] - The combined entity, trading as PRTX, aims to raise up to $640 million [1] - Approximately $240 million is expected from the SPAC trust, contingent on redemptions, with a potential additional $400 million through a new equity line [1] Bitcoin Strategy - Parataxis plans to immediately allocate $31 million to Bitcoin acquisition [1] - The company intends to accumulate Bitcoin over time, mirroring MicroStrategy's strategy [3] - This positions Parataxis among public companies holding substantial BTC, nearing a total of $90 billion [3] Market Focus - The firm aims to offer institutional-grade BTC exposure in underpenetrated markets like South Korea and the U S [2] - Parataxis Korea experienced a 450% share price increase since June following a deal with Bridge Biotherapeutics [2] - South Korea is identified as a high-impact market lacking a spot Bitcoin ETF, despite significant trading volume [2]

Don Jr. And Eric Trump Back New SPAC Targeting American Manufacturing—Here’s How These Deals Have Worked In The Pasthttps://t.co/7JgnKw771L https://t.co/6bsiZ5jIuR ...

Financial Performance - Cohen & Company Inc. reported second quarter 2025 revenue of $59.9 million, a significant increase from $28.7 million in the prior quarter and $10.8 million in the same quarter last year [1][7]. - Net income attributable to Cohen & Company Inc. was $1.4 million, or $0.81 per diluted share, compared to $0.3 million, or $0.19 per diluted share in the prior quarter, and a net loss of $2.3 million, or $1.47 per diluted share in the same quarter last year [2][7]. - Adjusted pre-tax income for the second quarter 2025 was $5.5 million, or $0.94 per diluted share, up from $1.3 million, or $0.22 per diluted share in the prior quarter, and a loss of $8.6 million, or $1.51 per diluted share in the same quarter last year [2][7]. Revenue Breakdown - Net trading revenue for the second quarter 2025 was $10.8 million, an increase of $1.5 million from the prior quarter and $2.0 million from the same quarter last year, primarily driven by higher trading revenue from SPAC equity, SBA, and mortgage groups [4][7]. - Asset management revenue was $2.2 million, slightly up from both the prior quarter and the same quarter last year, mainly due to deferred performance fees in European funds [4][7]. - New issue and advisory revenue reached $37.4 million, up $4.2 million from the prior quarter and $30.9 million from the same quarter last year, reflecting strong performance from Cohen & Company Capital Markets [4][7]. Operating Expenses - Compensation and benefits expense increased to $44.3 million for the second quarter 2025, up $22.7 million from the prior quarter and $33.6 million from the same quarter last year, largely due to fluctuations in revenue and related variable incentive compensation [4][7]. - Non-compensation operating expenses were $8.1 million, compared to $7.0 million in the prior quarter and $6.5 million in the same quarter last year [4][7]. Strategic Initiatives - The company is entering the second half of 2025 with strong momentum and a robust pipeline, driven by its full-service boutique investment banking operation [5][6]. - Cohen & Company launched a SPAC-focused equity trading desk, generating over $1.4 million in trading revenue in its first quarter of operation, which is expected to complement its capital markets strategy [6][7]. Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.25 per share, payable on August 29, 2025, to stockholders of record as of August 15, 2025 [2][11].