Bitcoin and HYPE could get $844M total windfall from 4 public US firms
DDC Enterprise and Fold Holdings have confirmed raises worth a total of $778 million as a biotech firm said it would raise $50 million to add HYPE as a treasury asset.
At least four publicly-traded US firms announced on Tuesday that they would bulk up their crypto investments by a total of $844 million, adding to the number of corporations looking for a boost from Bitcoin and other cryptocurrencies.
The largest raise on Tuesday was from the Hong Kong-based heat-and-eat meal seller DDC Enterprise Ltd, which said that it entered into three purchase agreements totaling $528 million, all of which will be used to expand the firm’s Bitcoin (BTC) holdings.
The raise came almost entirely from a $300 million convertible note, a $200 million credit facility and a $26 million equity investment. Dallas-based investment firm Anson Funds was the largest investor, while the venture capital arm of Animoca Brands also made a large contribution.