Crypto-Friendly Lender Old Glory to Go Public Through SPAC Deal

Old Glory Bank, a crypto-friendly lender with ties to prominent right-wing political figures, will become publicly traded through a deal with blank-check company Digital Asset Acquisition Corp.

Old Glory has deep roots in Oklahoma as a traditional lender, but re-branded as a digital bank in 2022 and touts its intention to embed cryptocurrency into loans, deposits and investment offerings.

“We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking,” Michael Staw, Old Glory’s co-founder and chief innovation officer, said in a statement on Tuesday. “Today, it’s too confusing, slow, and ...