Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Nasdaq-Listed GD Culture Group Bets Big on Crypto, $300M Move into $BTC and $TRUMP Memecoin

bullish:

0

bearish:

0

Share
tech-hub-stream-data-blockchains

A significant step is taken by Nasdaq-listed GD Culture Group in the landscape of digital assets. The platform has announced the sale of $300 million shares to buy Bitcoin ($BTC) and the $TRUMP memecoin. This groundbreaking step is the smallest part of a strategic crypto-treasury initiative. This move aims to empower the company’s core financial operations by integrating digital assets into it.

This initiative further strives to improve the balance sheet of the company. In a stock purchase agreement, the deal was signed, including a British Virgin Islands-driven investor. Crypto Rover, a platform for crypto analysis and an influencer, has given the news via its official X account.

Nasdaq-listed GD Culture Group to Adopt the Strategy of Digital Currency

The company has stated that a “significant portion” of these funds will be used to get crypto holdings. The fund acquired through the share sale will be used to get Bitcoin and the Official $TRUMP memecoin. The GD Culture group has not disclosed the exact allocation between the two assets.

Although the platform has emphasized that a forward-thinking approach is reflected in this strategy. Through this approach, the company aims to strengthen its financial resilience by utilizing digital trends. Xiaojian Wang, the CEO of the company, stated, “GDC’s adoption of crypto assets as treasury reserve holdings is a deliberate strategy that reflects both current industry trends and our unique strengths in digital technologies and the livestreaming e-commerce ecosystem.”

AI and Livestreaming Struggling Amid Financial Pressures

GD Culture Group works through AI Catalysis and Shanghai Xianzhui Technology Co. Ltd. The company is registered in Nevada, whose current focus is on digital human technology and livestreaming e-commerce on platforms such as TikTok. The company has a lot of innovative ambitions, but in 2024, it reported a net loss of $14.1 million.

Last month, the company fell below the minimum $2.5 million equity threshold of stockholders and received notice from Nasdaq. In 45 days, the company has to present a plan of how it will regain compliance. The company’s bold step towards digital assets could be a significant move to reemphasize its position in finance and technology.

bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.