The Nasdaq-listed insurance brokerage said an unidentified investor would contribute Bitcoin in exchange for equity, alongside an AI- and crypto-focused partnership.
Tian Ruixiang Holdings Ltd (Nasdaq: TIRX) said it has entered a strategic agreement under which an unidentified investor would contribute 15,000 Bitcoin in exchange for an equity stake in the company.
At Bitcoin’s (BTC) price of about $75,000 at the time of writing, the proposed contribution would be valued at about $1.1 billion.
Tian Ruixiang said the agreement also includes a strategic partnership focused on artificial intelligence and crypto initiatives, including a joint innovation lab focused on AI-powered trading and risk management tools, as well as blockchain and decentralized application development.
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