Nasdaq-listed GDC plans to buy Bitcoin and TRUMP memecoin for $300M
GD Culture Group (GDC) plans to raise up to $300 million for a cryptocurrency treasury reserve through a common stock purchase agreement. The funds will be used to acquire Bitcoin and the Official Trump token, aligning with a strategy to integrate crypto assets into its treasury operations. GDC, founded in 2016, has a market capitalization of $34 million and aims to leverage its strengths in digital technologies and livestreaming e-commerce. The stock offering follows a Nasdaq noncompliance warning regarding its stockholders’ equity, which was significantly below the minimum requirement. Additionally, the announcement coincides with a private dinner for the top holders of the Trump token, raising concerns among lawmakers about potential regulatory scrutiny related to politically affiliated cryptocurrencies.
