Microcap Firm Plans $300M Bitcoin, Trump Coin Buy Despite Nasdaq Compliance Warning
GD Culture Group Limited plans to raise up to $300 million in stock to finance Bitcoin and Trump Coin purchases amid a Nasdaq delisting threat due to financial shortfalls. The company signed a purchase agreement with a British Virgin Islands investor for its crypto treasury strategy. Chairman and CEO Xiaojian Wang described this move as a reflection of industry trends and the company's strengths. GD Culture reported equity of $2,643, below Nasdaq's $2.5 million requirement, and has until May 4 to submit a compliance plan. The company has a market cap of $28 million and net losses of $14 million in 2024. GD Culture has undergone multiple rebrands and now operates through subsidiaries focused on digital content and AI technology. Bitcoin was trading at approximately $102,500, and Trump Coin at $12.6. GD Culture's stock closed at $2.51 after peaking at $8.18 on the announcement day.
