Outstanding crypto enterprise agency Polychain Capital is main a $110 million financing deal to kickstart a treasury initiative holding BERA, the native token for the Berachain ecosystem.
Different buyers embrace Blockchain.com, CitizenX, dao5, Kraken, and North Rock Digital, amongst others, in accordance with an announcement on Monday.
Nasdaq-listed Greenlane Holdings (ticker GNLN) is providing a non-public funding in public fairness (PIPE) to amass BERA, which “will function the Firm’s major treasury reserve asset.” The corporate expects to boost $50 million in money or money equivalents and $60 million in locked or unlocked BERA tokens via gross sales of Class A shares and pre-funded warrants priced round $3.84 every.
The agency will buy BERA on the open market and through over-the-counter transactions.
GNLN shares shot up over 65% following the announcement to a excessive of $6.35 from a gap worth of $3.85, in accordance with Yahoo Finance. The inventory has since settled down and is at the moment up over 14% on the day.
The so-named “BeraStrategy” will primarily be directed by Chief Funding Officer Ben Isenberg. Different board members embrace Virgin Gaming co-founder Billy Levy and Bruce Linton, a former govt on the multi-billion greenback Cover Progress Company, who’s becoming a member of BeraStrategy as chairman.
Berachain, launched in February 2025, is a Cosmos-based, EVM-compliant Layer-1 blockchain that makes use of a bespoke Proof-of-Liquidity consensus mechanism that rewards customers for offering liquidity in varied DeFi apps.
BERA is up over 10% on the day, although at $2.05 continues to be buying and selling close to all-time lows, in accordance with The Block’s worth web page. The token hit an all-time excessive of $14.83 shortly after Berachain’s mainnet earlier this 12 months.
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