An under-the-radar Nasdaq-listed company is reportedly raising 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 – a New York-based artificial-intelligence (AI) software firm with a market value of about $26 million – has raised $300 million to purchase digital assets such as Bitcoin (BTC) and TRUMP.
The report says that the firm’s main investor is based in the British Virgin Islands, but no specific entity or person was named.
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The deal appears to be structured as an equity line of credit, meaning the investor will purchase $300 million worth of the firm’s stock over time at a discounted price and then sell
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