GD Culture Group (GDC), a NASDAQ-listed holding company focusing on livestreaming, e-commerce and artificial intelligence-driven digital human technology, plans to travel up to $ 300 million to a cryptocurrency-finance ministry.
In a statement on May 12, GDC and its subsidiary, AI catalysis, announced a joint share purchase agreement with a British Virgin Islands Limited Liability Company to sell up to $ 300 million of its joint share.
The income from the stock sale will be used to finance the company’s Crypto Treasury, which will include the purchase of Bitcoin (BTC) and the official Trump (Trump) token.
“During this initiative and subject to certain restrictions, the GDC intends to award a significant part of the proceeds from any share sale during the plant to the acquisition, long-term inventory and integration of crypto assets into its core taxation,” the company said in the announcement.
GDC described the strategy as a step to adapt to the broader “decentralization transformation.”
Founded in 2016, the GDC is a micro-cap company with a current market value of $ 34 million, according to NASDAQ data.
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GDC’s chairman and CEO Xiaojian Wang said the initiative is based on the company’s strengths in digital technologies and positions it for a blockchain-driven industrial shift.
“GDC’s adoption of crypto assets like Treasury Reserve Holdings is a conscious strategy that reflects both current industry trends and our unique strengths in digital technologies and the live streaming e-commerce ecosystem,” Wang said.
The share supply was announced over a month after the company received a warning of non -compliance from NASDAQ related to its shareholders’ equity. The message indicated that the company reported shareholders’ equity of only $ 2,643, well below the minimum requirement of $ 2.5 million.
The company was given until May 4 to submit a plan to comply with the listing requirements. If accepted by NASDAQ, the compliance plan allows up to 180 days from the message period to comply with the requirements.
The Nevada-based company joins a small but growing group of public companies that assign part of their balance to crypto assets.
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Trump Token Dinner scheduled for top holders
GDC’s message coincides with an upcoming high-profile event tied to the Trump Token project. The 25 largest proprietors of Trump -Tokens are ready to attend a private dinner at the White House on May 22.
However, the Trump Memecoin project said in a May 12 -post 12 May that it has stopped considering further purchases for the dinner and that the participants had been notified to apply for background checks.
According to data delivered on the project’s leaderboard, the top 220 wallets had more than 13.7 million tokens per day. 12 May to a value of about $ 174 million at the time of announcement.
Some US lawmakers have criticized the dinner. Republican senator Cynthia Lummis allegedly said the idea of ​​the US president offers exclusive access for people who are willing to pay “gives [her] pause.”
Crypto -Regulation experts also fear that the trump family’s crypto efforts may trigger more regulatory control of the US Securities and Exchange Commission as politically affiliated Memecoins are introducing a new challenge for crypto re -acquisition legislation.
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