According to CoinMeta, the merger vote regarding digital asset SPAC Digital Asset Acquisition Corp (. DAAQ) and its parent company Old Glory Bank has been postponed from the original date of July 31 to August 14. The reasons for the delay, the number of shares redeemed by shareholders, and the remaining funds in the trust accounts have not yet been disclosed. Old Glory Bank's tier one capital leverage ratio is below the usual 4% capital adequacy threshold, and regulatory orders require it to maintain a 14% ratio. There are also significant doubts regarding the sustainability of its parent company's operations over the next 12 months. Completing this transaction will require at least $50 million in cash, but as of now, there are no commitments from PIPE or other parties for financing.