According to the new report, Block Street was registered in Nevada in October and has no revenue, while AI Financial says the acquisition is aimed at tokenization and ICO-related business lines.
AI Financial agreed to acquire Block Street for up to $43 million, with the deal drawing scrutiny because Block Street was founded by AI Financial adviser Matthew Morgan. The new report adds that Block Street was registered in Nevada last October and has no revenue. AI Financial said the acquisition targets tokenization and ICO businesses. The announcement also comes as AI Financial shares have fallen more than 90%, reinforcing investor focus on governance and execution risks around the company’s Trump-linked crypto strategy.