Hedge fund titan Bill Ackman on Wednesday raised $4 billion in an IPO on the New York Stock Exchange. But it wasn’t for a company, or even for the firm that controls his hedge funds. It was for something called a SPAC, and it was the largest SPAC IPO of all time.
Axios Re:Cap digs into Wall Street's latest craze with Ackman, who was ahead of his time in 2012 when he used a SPAC to bring Burger King public.
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Consumers can no longer buy Tesla vehicles with bitcoin, CEO Elon Musk announced on Twitter Wednesday.
What he's saying: Musk cited the environmental concerns associated with bitcoin — the cryptocurrency has a massive carbon footprint — as his reasoning behind Wednesday's decision.
U.S. Border Patrol has made more than 1 million arrests of migrants attempting to cross the U.S.-Mexico border since last October, after June set a 20-year record for that month, according to government data released on Friday.
Why it matters: The surge in migrants attempting to cross the border has continued — inciting Republicans to blame the Biden administration, while Democrats and immigration advocates pressure the president to undo strict Trump-era enforcement policies.
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