Hello Fintech Friends,
This week, fintech revenues hit a record $504 billion in 2025. Kraken Co-CEO Arjun Sethi bid $5.5M to acquire a Wyoming bank through bankruptcy proceedings, Bank Reg Blog reports. In M&A, Commerzbank is playing hardball over UniCredit's takeover bid, Worldline completes a merchant services deal, and crypto IPOs continue even as bitcoin hits its lowest value since February. Meanwhile, the walls keep closing in on the Consumer Financial Protection Bureau (CFPB).
Please find another week of fintech exits and deep reads below.
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Reads of the Week
IPOs & SPACs
Tribeca Strategic Acquisition Corp. (BID) priced a $140 million SPAC IPO on May 29, 2026, sponsored by Tribeca Strategic Partners Holdco LLC.
CSLM Digital Asset Acquisition Corp III (KOYN) signed a Letter of Intent with First Digital Group, a programmable stablecoin and digital financial contracts infrastructure company.
M&A - Fintech
Worldline acquired the remaining stake in Eurobank's Greek merchant services business for €72 million ($79 million), completing a deal first struck in 2022 when it bought 80% of the unit for €338 million ($371 million).
Fonoa acquired the PwC Indirect Tax Edge platform, adding an indirect tax compliance system to its AI-based tax technology offering.
Kraken Co-CEO Arjun Sethi bid $5.5 million to acquire Wyoming's Summit National Bank through bankruptcy proceedings, topping previous failed bids, Bank Reg Blog reports.
M&A - Banks and Financial Institutions
Italy’s UniCredit increased its stake in Germany’s Commerzbank to 34.4%, clearing a key threshold in its takeover pursuit — but Commerzbank challenged UniCredit's claim that enough shareholders had tendered stock to support the bid.
Arrow Financial received OCC approval for its acquisition of Adirondack Bank in a deal valued at $89.1 million.
The European Commission criticized Spain's intervention in bank merger reviews, adding pressure around BBVA's proposed acquisition of Sabadell valued at roughly €16 billion ($18.6 billion).
