Nasdaq-listed company BioNexus becomes the first company to adopt an Ethereum reserve strategy
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)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana ecosystem x402 concept token PayAI market cap surpasses $31 million, with a 24-hour increase of 39.62%
Barclays CEO: There is capital in the field of artificial intelligence
Trending news
MoreData: In the past 24 hours, total liquidations across the network reached $92.21 million, with long positions liquidated for $44.73 million and short positions liquidated for $47.48 million.
"Rich Dad Poor Dad" Author: Those who buy ETH at $4,000 will become as wealthy as those who invested in BTC when it was $4,000