Nasdaq Listed Giant Company to Buy 300 Million Dollar Bitcoin and TRUMP Coin! - Coin Bulletin

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GD Culture Group, listed on the Nasdaq stock exchange, announced that it will purchase Bitcoin (BTC) and Official Trump (TRUMP) meme coins by selling shares of up to 300 million dollars.

US-based technology and e-commerce company GD Culture Group announced on Monday that it has signed a share sale agreement with an investor based in the British Virgin Islands for a total of up to $300 million. The company stated that a significant portion of the revenue generated from these sales will be held long-term by purchasing Bitcoin and TRUMP meme coin, and that it will include these crypto assets in its balance sheet.

The GD Culture Group described the strategy in question as a "conscious decision reflecting the industry trends and our company's strengths in the live streaming e-commerce ecosystem with digital technologies". The company's CEO, Xiaojian Wang, stated that they aim to strengthen corporate reserves with this step.

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There was a warning from Nasdaq.

Recently struggling with financial difficulties, GD Culture reported a loss of 14.1 million dollars in 2024. Last month, the company received a warning from Nasdaq for failing to meet the minimum shareholding value and was given a 45-day period for compliance.

Increased interest due to Trump effect

Former US President Donald Trump's call for the country to increase its Bitcoin and crypto reserves has significantly raised interest in crypto assets within the corporate world. Previously, other Nasdaq companies like Freight Technologies had also taken similar steps by starting to buy Trump meme coins. This situation makes GD Culture's move more noticeable in the market.

At the time the news was published, the price of Bitcoin was trading at $102,267, while the price of TRUMP meme coin decreased by 10% to $12.48.