News

According to Jinse Finance, vertical farming technology company Nature's Miracle Holding Inc. (OTCQB: NMHI) announced today that it will establish a corporate XRP fund program of up to $20 million. The company will use proceeds from equity financing provided by GHS Investments to purchase XRP and meet working capital needs. The S-1 registration statement for GHS Investments was recently declared effective by the U.S. Securities and Exchange Commission (SEC).

Foresight News reports that on July 22, a member of the Aavegotchi community proposed to purchase the DAO treasury (approximately 16 million GHST) at a 60% discount to the 14-day average price, valuing the deal at around $3.2 million. The proposal was submitted by Rongming Investment, a subsidiary of the Chinese equity financing firm Yifeng Investment. According to the proposal, the transaction would grant Rongming Investment the rights to use and market the Aavegotchi IP, dissolve the DAO, and distribute the proceeds to active community members. With over 90% of the community voting against the proposal and only over 2 million GHST tokens participating—just 28% of the required quorum—if the current trend continues, the acquisition offer will be rejected. Voting is scheduled to conclude on July 25.