GD Culture Group (GDC) Announces Plans to Raise Up to $300 Million for a Cryptocurrency Treasury Reserve

Culture Group (GDC) announced plans to raise up to $300 million for a cryptocurrency treasury reserve.

The Nasdaq-listed firm, which operates in livestreaming, e-commerce, and AI-driven digital human technology, disclosed the funding initiative through a stock purchase agreement with a British Virgin Islands-based entity. According to its statement on the 12th of May, the proceeds will be used to acquire leading digital assets.

Among the targeted assets are Bitcoin [BTC] and the Official Trump [TRUMP] token. This move signals GDC's strategic expansion into the crypto space amid growing market interest.

Providing further insights on the same, the company said in the announcement,

"Subject to any limitations imposed by the applicable legal and regulatory frameworks in the relevant jurisdictions, and after taking into account the relevant factors that the company deems relevant in making such determination in good faith, the company intends to allocate a substantial portion of the net proceeds from any share sales under the facility to the acquisition, long-term holding, and integration of crypto assets into its core treasury operations."

By integrating scalable, high-performing digital assets into its balance sheet, the company aims to position itself at the forefront of the evolving decentralized finance (DeFi) landscape.

GDC's crypto treasury plans emerge at a time of heightened activity in the digital asset space, particularly surrounding the TRUMP token.

Additionally, the TRUMP token project is organizing an exclusive White House dinner on May 22 for its top 25 holders.

The team has halted further purchases tied to the event and now requires attendees to undergo background checks.

Despite this, the excitement surrounding the gathering highlights the deepening political and cultural connections within the crypto space.