US-listed company Tianruixiang plans to acquire 15,000 Bitcoins through an equity transaction.
TL;DR
Tianruixiang (NASDAQ: TIRX) plans to acquire 15,000 Bitcoins worth $1.1 billion from an unnamed investor in exchange for equity, alongside a strategic AI and crypto collaboration including a joint innovation lab.
Tags
PANews reported on February 4 that, according to Cointelegraph, insurance brokerage firm Tianruixiang (NASDAQ: TIRX) announced a strategic agreement under which an unnamed investor will contribute 15,000 bitcoins (worth approximately $1.1 billion) in exchange for a stake in the company.
Tianruixiang stated that the agreement also includes a strategic collaboration focused on artificial intelligence and cryptocurrency, including the establishment of a joint innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications, and products covering Layer 2 networks, DeFi, and NFTs. The company only described the counterparty as a global digital asset investor with extensive experience in the cryptocurrency and technology markets, without disclosing the transaction time, custody arrangements, or settlement mechanisms.