Global law firm Reed Smith LLP has announced its role as legal counsel to ProCap BTC, LLC in its proposed business combination with Columbus Circle Capital Corp. I, a special purpose acquisition company. The transaction will result in the formation of ProCap Financial, Inc., which aims to position itself as a leader at the intersection of bitcoin and traditional finance. The deal includes a significant capital raise, totaling over $750 million, marking the largest initial fundraise for a public bitcoin treasury company. ProCap BTC's founder, Anthony Pompliano, will lead ProCap Financial as CEO upon the closing of the transaction.
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