BioNexus Gene Lab Corporation announced that it has adopted Ethereum as its preferred reserve asset, becoming the first Nasdaq-listed company to abandon Bitcoin in favor of Ethereum. In its strategic white paper, BioNexus highlighted the key reasons for choosing Ethereum over Bitcoin: Ethereum staking can generate 3-5% annual returns converting assets into income sources; it has been recognized by major financial institutions such as BlackRock; it supports infrastructure for trillions of dollars in stablecoin transactions; and the upcoming Pectra upgrade will further enhance its value. The company is currently facing financial difficulties, with a stock price of $0.32, down 61%, and has received a non-compliance warning from Nasdaq. It plans to carry out a reverse stock split in April this year to address this issue. (Decrypt)