An under-the-radar Nasdaq-granted company is said to raise hundreds of millions of dollars to acquire crypto assets, including official Trump (Trump), the president’s own meme token.
According to a new report From the Wall Street Journal, GD Culture Group-one has raised artificial intelligence (AI) software company with a market value of around $ 26 million-$ 300 million to buy digital assets such as Bitcoin (BTC) and Trump.
The report says that the most important investor of the company is located in the British Virgin Islands, but is not mentioned a specific entity or person.
The deal seems to have been structured as a credit stock line, which means that the investor will buy $ 300 million to the shares of the company over time at a reduced price and then sell the shares on the open market.
News about the stock price of fundraising increased the GD Culture Group (GDC) and pushed it from a low of $ 2.14 on 13 May to a peak of $ 2.31 out of 14th. GDC has since retired and acts for $ 2.18 at the time of writing, an increase of 1.94% during the last 24 hours.
GDC, the report says that it uses AI-based algorithms to make digital human avatars to sell products on the social media app Tiktok Tiktok, joins other companies, such as strategy, when creating a crypto-asset-treasure box.
BTC acts for $ 103,402 at the time of writing, a fractional decrease of the day, while Trump is valued at $ 13.16, an increase of 2.4% during the last 24 hours.
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