GD Culture Group, tied to TikTok, plans to raise $300M to invest in Bitcoin and TRUMP memecoin—shifting from e-commerce to crypto amid Trump family conflict concerns.
#GDcultureGroup #TRUMPmemecoin #Bitcoin #Crypto #Memecoins #TikTok #PrivateInvestment
#GDCultureGroup, which is traded on the #Nasdaq, said that it would spend $300 million on a stockpile of #Bitcoin and #$TRUMP. It would be paid for using funds from a #mysteriousstocksale to an #unnamedentity in the #BritishVirginIslands, a popular #taxhaven!
In its filing with the #SEC on Tuesday, #GDCultureGroup confirmed its plans to buy $TRUMP — but again omitted any information about the entity that is financing the purchase.
Historically, the British Virgin Islands has been a favorite jurisdiction for overseas investors seeking to maintain […]
…The stmnt by #GDCultureGroup did not mention any policy objectives. Xiaojian Wang, the chief exec, said the company was embracing “industrial transformation” through #cryptocurrencies & moving to “strengthen our financial foundation.”
It was unclear how exactly GD Culture Group had secured the […]
…any purchase by #GDCultureGroup would be the first known example of a #China-linked firm buying #Trump’s #memecoin. In its financial disclosures, the company has noted that its subsidiary, Shanghai Xianzhui, might be influenced by demands from the Chinese govt, though that is not unusual […]
“Make no mistake. These foreign entities & governments obviously want to curry favor with the president,” said former Representative Charles Dent, a Pennsylvania Republican who was the chairman of the House #Ethics Cmte. “This is completely out of bounds & raises all sorts of ethical, legal & […]
In its statement, #GDCultureGroup, which is traded on the Nasdaq, said it would spend $300 million on a stockpile of #Bitcoin & $TRUMP, using proceeds from a #stock sale to an unnamed entity in the British Virgin Islands, a popular tax haven. It confirmed that investment plan in a #securities […]
But on Monday, #GDCultureGroup became the latest business with foreign ties to seize on #Trump’s #crypto venture, which channels profits directly to the Trump family & has generated conflicts of interest that have alarmed #ethics experts. (#Memecoins like $TRUMP are a type of #cryptocurrency […]
A struggling technology company that has ties to #China & relies on TikTok made an unusual announcement this week. It had secured funding to buy as much as $300 million of $TRUMP, the so-called #memecoin marketed by #Trump.
#GDCultureGroup, a publicly traded firm with a Chinese subsidiary, has […]
