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The secret life of SPACs

Nirgunan Tiruchelvam
Nirgunan Tiruchelvam4/30/2021 07:00 AM GMT+08  • 4 min read
The secret life of SPACs
SPACs are sweeping the world. In 2021 alone, almost US$100 billion have been raised by SPACs.
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The Double Life of Henry Phyfe was an American TV show about an accountant who impersonates a dead spy. Phyfe and the dead man looked identical. He was ideally suited to pose as the spy.

Phyfe took his fake identity seriously. He pretended that his girlfriend was a stranger. Phyfe even avoided eye contact with his friends.

This TV show was last aired in 1966, but it may have inspired a Singapore-based company. Triterras, a commodity trader that uses blockchain, was the first Singapore company to be bought by a special purpose acquisition company (SPAC).

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