QMMM Holdings, a Hong Kong-based digital media promoting agency, has reported a staggering 1,736% improve in inventory quickly after it introduced plans to construct a $100 million crypto treasury.
Per Yahoo Finance information, QMMM shares soared 2,300% on Tuesday earlier than closing 1,736% increased at $207 on Nasdaq.
Nonetheless, the inventory fell in prolonged buying and selling, and the shares are down 61% on the time of publication. The shares have reported an 8,147% improve previously month.
QMMM Launches ‘Crypto-Autonomous Ecosystem’ – Plans $100M Digital Asset Treasury
QMMM, on Tuesday, introduced that it’s constructing a large $100 million crypto treasury focusing on Bitcoin, Ethereum, and Solana.
Calling it a “crypto-autonomous ecosystem,” the corporate, additionally recognized for its digital attire providers, mentioned it will mix synthetic intelligence with blockchain to advance progressive instruments for crypto evaluation.
“QMMM’s entry into this house displays our dedication to technological innovation and our imaginative and prescient to bridge the digital economic system with real-world functions, ”mentioned Bun Kwai, CEO of QMMM.
Additional, the agency is looking for to attach information suppliers with customers by means of a blockchain-based, decentralized market. In the meantime, it plans to leverage AI-powered analytics to course of “massive volumes of knowledge.”
“Our cryptocurrency initiatives, mixed with our experience in AI and digital platforms, are designed to create sustainable worth for our stakeholders whereas reinforcing our position as a forward-looking expertise firm,” Kwai added.
Rising Wave of Asian Gamers Adopting Crypto
QMMM’s crypto treasury debut comes amid a rising variety of Asia-based firms eyeing to incorporate the asset class of their stash.
As reported by Cryptonews final week, VC agency Sora Ventures revealed the launch of its devoted Bitcoin treasury fund, backed by an preliminary $200 million dedication from Asian buyers. It goals to build up $1 billion value of BTC inside the subsequent six months.
Apart from, Japanese Bitcoin aggressive accumulator Metaplanet is looking for to difficulty 385 million new shares by means of an abroad providing for added BTC purchases.
The sixth largest Bitcoin company investor goals to boost ¥212.9 billion ($1.44 billion) in its newest fairness providing.
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