Key Takeaways
- GD Tradition Group plans to lift as much as $300 million to buy Bitcoin and TRUMP memecoin.
- The corporate acquired a Nasdaq discover for failing to fulfill the $2.5 million stockholders’ fairness requirement.
- This follows different company acquisitions of Bitcoin, together with MicroStrategy’s $1.34 billion BTC buy.
GD Tradition Group, a Nasdaq-listed agency centered on digital human expertise and livestream e-commerce, introduced it should promote as much as $300 million in shares to fund a brand new treasury technique centered on Bitcoin and the TRUMP memecoin.
Inventory buy settlement particulars
The corporate signed a inventory buy settlement with an investor based mostly within the British Virgin Islands.
A “significant slice” of the raised capital will probably be used to accumulate and maintain Bitcoin and TRUMP, although no particular allocation was disclosed.
GD Tradition stated the transfer is meant to boost its stability sheet.
CEO’s assertion on crypto adoption
CEO Xiaojian Wang stated in an announcement:
GDC’s adoption of crypto property as treasury reserve holdings is a deliberate technique that displays each present business traits and our distinctive strengths in digital applied sciences.
Monetary background & compliance points
Registered in Nevada, GD Tradition operates via its subsidiaries AI Catalysis and Shanghai Xianzhui Know-how Co. Ltd.
It reported a $14.1 million web loss in 2024, barely improved from $14.3 million in 2023.
The corporate not too long ago acquired a Nasdaq non-compliance discover after failing to take care of the $2.5 million minimal stockholders’ fairness.
Broader context of company Bitcoin holdings
This transfer comes amid a broader push for company Bitcoin holdings, with Freight Applied sciences committing as much as $20 million to TRUMP, and MicroStrategy shopping for 13,390 BTC for $1.34 billion.
In the meantime, Japan’s Metaplanet now holds 6,796 BTC, surpassing El Salvador.
Present market costs
Bitcoin was buying and selling at $102,267, down 1.7% in 24 hours, whereas TRUMP dropped 10% to $12.48.