Former NYSE President Farley said SPACs will disappear, capital markets are 'completely dead'

Former NYSE President Tom Farley and Far Peak Acquisition (NYSE:FPAC) SPAC founder said that the believes SPACs are done as an investment structure and he believes that capital markets are "completely dead" for now. "They are going to disappear and on this show you won't utter the word SPAC, I suspect in 2024, more than once or twice," Farley said earlier in an interview on CNBC. Farley highlighted that there have been four initial public offerings in June versus 91 in June of last year. IPOs are "completely dead," Farley said. They will come back "but it's going to be a long time. People who think they are going public in the back half of this year are wrong." "I think crypto looks more like capital markets than it does like SPACs," Farley added. "It's a painful moment. I think retail has been smoked. I don't think retail is coming