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U.S. listed company Tianruixiang plans to acquire 15,000 Bitcoins through equity-related transactions, valued at approximately $1.1 billion.
ChainCatcher reports that, according to Cointelegraph, Nasdaq-listed insurance brokerage company Tianrui Xiang announced that the company has reached a strategic agreement. An undisclosed investor will invest 15,000 Bitcoins in exchange for equity in the company, currently valued at approximately $1.1 billion.
Tianrui Xiang also stated that the agreement includes a strategic partnership focused on artificial intelligence and the crypto space. The plan is to jointly establish an innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications, as well as related products covering Layer 2 networks, DeFi, and non-fungible tokens (NFTs).