Reliance Global establishes digital asset treasury strategy, plans to invest $60 million in the first phase to purchase BTC, ETH, and others
Jinse Finance reported that Nasdaq-listed company Reliance Global Group announced that its board of directors has approved a strategic expansion into the digital asset and blockchain sectors, and has established a digital asset treasury portfolio including BTC, ETH, and SOL. The company plans to purchase up to $60 million worth of digital assets in the first phase, followed by an additional $60 million investment, bringing the total investment to $120 million. These assets will be managed by its newly established Cryptocurrency Advisory Committee.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Spot platinum hits $1,620/ounce, down 0.67% intraday.
The US dollar has reached the 6.6900 level against the offshore RMB.
AI concerns outweigh inflation benefits, US dollar sees biggest single-day drop in over a month
Despite the U.S. September PPI posting its largest monthly increase in four years and retail sales exceeding expectations—factors that should have bolstered the dollar—risk aversion triggered by a sell-off in AI-related assets led to a flight to U.S. Treasuries, pushing yields lower and weighing on the dollar. As a result, the dollar fell by 0.3% on Thursday. Analysts noted that the dollar is closely linked to AI capital expenditures, and if the market grows concerned about the peak of AI investments, the dollar would be the first to take a hit.
Crypto prices
More
