Grindr is going Public through Tiga SPAC at a $2.1 Billion Valuation

Grindr said yesterday it will merge with a SPAC dubbed Tiga Acquisition Corp. The deal values the LGBTQ+ dating app at a total enterprise value of $2.1 Billion post transaction closing.

The SPAC merger, which is expected to close in the second half of the year, will raise $384 Million in total funds for Grindr.

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Democrats Propose $40 Billion Ukraine Funding Package

U.S. congressional Democrats agreed to rush $39.8 Billion in additional aid for Ukraine, two sources familiar with the proposal said yesterday, easing fears a delayed vote could interrupt the flow of U.S. weapons to the Kyiv government.

The House of Representatives could pass the plan, which exceeds President Joe Biden's request last month for $33 billion, as soon as today, and Senate leaders said they were also prepared to move quickly.

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40% of Bitcoin Investors are Reportedly Under Water

Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.

That percentage is even higher when you isolate the short-term holders who got skin in the game in the last six months when the price of bitcoin peaked at around $69,000.

In the last month alone, 15.5% of all Bitcoin wallets fell into an unrealized loss, as the world’s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. Bitcoin’s close correlation to the NASDAQ challenges the argument that the cryptocurrency functions as an inflation hedge.

Meta to Start Testing Digital Collectibles on Instagram

Meta will start testing digital collectibles and NFTs on a small number of users on Instagram this week, according to chief executive Mark Zuckerberg. 

A select group of creators and collectors in the U.S. on Instagram will be able to use NFTs as profile pictures, similar to a move other social media platforms like Twitter have done in recent months.

Users in the test group will be able to post NFTs at no cost by linking their third-party digital wallets in-app, according to the company. The NFTs will get a special "shimmer" around the photo with attribution to both the creator and the owner.

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