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Nasdaq Firm with Chinese Ties Backs TRUMP Memecoin in $300M Deal
By: bitcoin ethereum news|2025/05/15 14:00:14
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GD Culture Group plans to invest up to $300M in TRUMP and Bitcoin. TRUMP token surged 6% after the announcement, reversing prior losses. Nasdaq-listed GD Culture Group has committed up to $300 million to buy Bitcoin and the Trump-themed TRUMP memecoin. The announcement came in a May 11 SEC filing. The company plans to use funds raised from a stock deal with an unnamed investor in the British Virgin Islands. GDC has no revenue and just eight employees. It claims to run an e-commerce platform via TikTok, which faces a potential U.S. ban. The timing of this massive crypto bet raises regulatory concerns. Notably, President Trump is weighing whether to ban TikTok while also backing a TRUMP token dinner. GDC Eyes Massive TRUMP Stake The company is using a committed-equity facility to raise funds. It can issue new shares and send purchase notices to the investor, capped at 4.99% ownership, with an option to increase to 9.99%. Initially, GDC cannot exceed a 19.99% issuance limit without shareholder approval. To reach the full $300 million at the floor price of $0.44, GDC would need to issue roughly 682 million new shares. That’s far beyond the current 16.8 million float. Unless shareholders approve more issuance or the stock price surges, GDC cannot access the full amount immediately. Still, if executed, GDC’s assets could grow from $14 million to over $300 million. This would make it one of the largest holders of TRUMP, which has generated $320 million in fees tied to Trump-linked entities. TRUMP’s price rose 6.11% after the announcement, reversing earlier losses. It climbed from a recent low of $12.22 to $13.55 and could gain further ahead of the May 22 crypto dinner with Trump. The dinner invites the top 220 TRUMP holders, including a private meeting for the top 25. Despite the boost, TRUMP faces technical risks. RSI shows bearish divergence, and the MACD indicates possible consolidation. Support lies near the 50-day EMA at $12.20 and the $10 demand zone. Still, volatility could lift prices above $20 before dinner. Highlighted Crypto News Today Coinbase Fuels QCAD to Reinvent Canadian Payments Source: https://thenewscrypto.com/nasdaq-firm-with-chinese-ties-backs-trump-memecoin-in-300m-deal/
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