The Nasdaq-listed insurance brokerage said an unnamed investor would contribute BTC as part of a deal that also includes an AI- and crypto-focused strategic partnershipThe Nasdaq-listed insurance brokerage said an unnamed investor would contribute BTC as part of a deal that also includes an AI- and crypto-focused strategic partnership

Tian Ruixiang plans to acquire up to 15K Bitcoin in equity-linked deal

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The Nasdaq-listed insurance brokerage said an unnamed investor would contribute BTC as part of a deal that also includes an AI- and crypto-focused strategic partnership.

Tian Ruixiang Holdings Ltd (Nasdaq: TIRX) said it has entered a strategic agreement under which an unnamed investor would contribute 15,000 Bitcoin in exchange for an equity stake in the company. 

Tian Ruixiang plans to acquire up to 15K Bitcoin in equity-linked deal

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 the creation of a joint innovation lab to develop AI-powered trading and risk management tools, blockchain infrastructure, decentralized applications and products spanning layer-2 networks, DeFi and nonfungible tokens.

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