Bitmain Invests 3 Billion Yen in Worldcoin’s Financial Firm, Eightco

Eightco Holdings' ambitious treasury strategy centered on Worldcoin, along with a $250 million private placement, has caused a dramatic surge in its stock price, highlighting increasing interest in Worldcoin-related ventures.

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191d ago

Summary

Eightco Holdings Inc. experienced a dramatic 3,000% stock surge after announcing plans to create a treasury focused on Worldcoin, securing a $20 million investment from BitMine. The company also raised $250 million in a private placement aimed at purchasing Worldcoin tokens. Eightco's treasury will prioritize Worldcoin, with Ethereum and cash as secondary reserves. The company plans to rebrand to 'ORBS' in September 2025, reflecting its new focus. Worldcoin itself rose 49%, reaching a seven-month high, and has now registered nearly 16 million accounts in over 45 countries.

Terms & Concepts

Worldcoin: A digital identity system that uses biometric verification to grant tokens, aiming to create a global economic system with a focus on financial inclusion.
Private Placement: A funding method where securities are sold to a select group of investors, typically at a discount, rather than through public markets.
Proof of Personhood: Worldcoin's unique identity verification method using iris-scanning technology, ensuring that only humans are granted access to its digital currency.