Digital Asset Acquisition Corp. (DAAQ) has postponed the vote on its merger with Old Glory Bank's parent company from July 31 to August 14. However, the reasons for the delay, the number of shareholder redemptions, and the remaining funds in the trust account have not been disclosed. Old Glory Bank's Tier 1 capital leverage ratio is below the usual 4% capital adequacy threshold and is under regulatory orders to maintain a 14% ratio. Additionally, its parent company has raised significant doubts about its ability to continue operations over the next 12 months. The transaction requires at least $50 million in cash to close, but as of the last disclosure, there are no PIPE or other financing commitments. (CryptoSlate) https://(wublock123.com)/news/old-glory-bank-spac-vote-delayed-50m-funding-conditions-unresolved-65751