The GD Culture Group (GDC), a Nasdaq-listing holding company, focused on Livestreaming, e-commerce and Artificial Intelligence Digital Human Technology, is planning to increase $ 300 million for a Cryptocurrency Treasury Reserve.
In a statement of May 12, the GDC and its subsidiary, AI Catalis Corp, announced to enter a general stock purchase agreement with a British Virgin Islands Limited Liability Company to sell up to $ 300 million of their general stock.
Income from stock cells will be used to fund the firm’s crypto treasury, which will include purchasing of bitcoin (BTC) and official Trump (Trump) tokens.
“Under this initiative, and subject to some limitations, GDC intends to allocate an important part of income from any share sales, which is for integration in its core treasury operations for acquisition, long -term holding and integration of crypto assets,” the company said in the announcement.
The GDC described the strategy as a step to align with wide “decentralization changes”.
Established in 2016, GDC is a micro-cap company with current $ 34 million market capitalization, According For Nasdaq data.
Connected: Multi-wallet is used 16%, but AI Crypto can address fragmentation difference
GDC President and CEO, Geozian Wang said that the initiative is made on the strength of the company in digital technologies and keeps it for blockchain-managed industrial changes.
“Adopting crypto assets as GDC’s Treasury Reserve Holdings is a deliberate strategy that reflects our unique strength in current industry trends and digital technologies and our unique strength in e-commerce ecosystems,” Wang said.
Stock was offered a month after the firm received non -renovation alert Nasdaq related to its stockholders equity. The notice indicated that the firm reported only $ 2,643 to the equity of the stockholders, lower than a minimum requirement of $ 2.5 million.
The firm was given to submit a plan to follow the listing requirements by 4 May. If accepted by NASDAQ, the compliance plan will allow the firm to up to 180 days from the notification period to follow the requirements.
The Nevada-based company joins a small but growing group of public firms that is allocating part of its balance sheet for crypto assets.
Connected: Crypto speculation dominates $ 600B cross-border payment: BIS report
Trump token dinner planned for top holders
The GDC announcement matches with an upcoming high-profile event tied to the Trump token project. The 25 largest holders of Trump tokens are ready to attend a private dinner at the White House on 22 May.
However, Trump Memcoin Project Said On 12 May X Post that it has stopped considering additional purchases for dinner dinner and attended the attendees to apply for background check.
According to data on the project’s leaderboard, the top 220 purses held over 13.7 million tokens till May 12, priced at about $ 174 million at the time of publication.
Some US lawmakers have criticized dinner. Senator Synthia Lummis allegedly stated that the idea of the US President provides special access to those wishing to pay for it “gives him (he) to stop him.”
Crypto regulation experts also fears that the crypto efforts of the Trump family may trigger more regulatory investigations by the US Securities and Exchange Commission, as politically affiliated to present a new challenge to the Crypto law.
https://www.youtube.com/watch?v=oqemr3g8dai
magazine: Uni Students Crypto ‘Grooming’ scandal, 67k scam by fake women: Asia Express
