“The Company Earlier Raceded $ 450 Million in A Private Placement Round from Investors to Pursue An Eth Reserve Strategy.”, – WRITE: www.coindesk.com
Treasury Strategy, Tumbled 70% on Thursday in After-Hours Trading Following A Fresh Filing to the US Securities and Exchange Commission.
The Company Submitted An S-3ASR Registration Statement, Enabling the Resale of Up to 58,699,760 Shares Related To Its Private Investment in Public Equity (Pipe) Fincking.
The Thursday Filing Alows More Than 100 Shareholders in The Pipe Round to Sell Their Shares, Effectiely Flooding The Market and Triggering A Post-Close Sell-Off, Charles Allen, Ceo of Pursuing Crypto Reserve Strategy, Explained in an X Post and An Interview with Coindesk.
The Company Raceded $ 450 Million Earlier this month Through a pipe Round from A wide Range of Investors, Including Consensys, Galaxy, And Pantera Capital, To. Ethereum Co-FOUNDER AND CONSENSYS CEO JOSEPH LUBIN ALSO JOINED The FIRM as Board Chairman.
However, there may be a larger strategy behind the Latest Move.
Allen Said in an X Post that HE THINKS MAY HAVE QUIETLY RAISED UP to $ 1 Billion to Buy More Eth Using an at-The-Market (ATM) Offering What kind of
“If they played cards Right, they would expert a surprise pr Tomorrow with $ 1b of eth Purchases, WHICH COURKLD LIGHT the MATCH TO REGNITE The SOCK,” HE SAID.
ETH IS DOWN 4.1% OVER The PAST 24 Hours at AT AT AUND $ 2.650 As Bitcoin and the Broader Crypto Markets Slid.
Read More: Crypto Cracks Late in Day, Bitcoin Slumps Below $ 106k
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