Nasdaq-listed GD Culture Group to sell up to $300 million in shares to acquire Bitcoin and TRUMP memecoin

Nasdaq-listed GD Culture Group has signed a stock purchase agreement with a British Virgin Islands-based investor to sell up to $300 million worth of shares as part of its crypto treasury strategy, which includes buying Bitcoin and the Official Trump (TRUMP) memecoin.

GD Culture, a digital human technology and e-commerce company, announced Monday that it plans to allocate a "significant portion" of the proceeds from the share sales to the "acquisition, long-term holding, and integration of crypto assets into its core treasury operations."

Its crypto asset treasury strategy includes purchasing Bitcoin and TRUMP, although the firm didn’t specify how much Bitcoin and TRUMP it intends to buy individually. The company added that it aims to "enhance its balance sheet" with crypto assets.

"GDC's adoption of crypto assets as treasury reserve holdings is a deliberate strategy that reflects both current industry trends and our unique strengths in digital technologies and the livestreaming e-commerce ecosystem," Xiaojian Wang, chairman and CEO of the company, said in the statement.

GD Culture, registered in Nevada, operates primarily through two of its subsidiaries: AI Catalysis and Shanghai Xianzhui Technology Co. Ltd., which is incorporated in China. According to its website, its core business includes AI-driven digital human technology designed to create lifelike digital humans. The company also runs live streaming e-commerce businesses on social media platforms such as TikTok.

The company reported a net loss of $14.1 million in 2024, compared to a net loss of $14.3 million the previous year, its latest earnings report shows. Last month, it warned investors that it had received a written notification from Nasdaq stating the company was no longer in compliance with the exchange's continued listing requirements after failing to meet the minimum stockholders' equity threshold of $2.5 million. The company was given 45 days to submit a plan to regain compliance.

The company's move follows U.S. President Donald Trump's push for national bitcoin and crypto reserves, prompting many companies to expand their corporate crypto holdings. For example, Freight Technologies, a Nasdaq-listed logistics firm, announced earlier this month that it entered an agreement that would finance up to $20 million for purchasing Official Trump memecoin.

Michael Saylor-led Strategy, the biggest public corporate holder of Bitcoin, also announced Monday that it purchased another 13,390 BTC for roughly $1.34 billion, bringing its total holdings to 568,840 BTC, worth over $59 billion.

Japan's Metaplanet also said Monday that its latest purchase of 1,241 BTC has raised its total holdings to 6,796 BTC, surpassing El Salvador's bitcoin treasury.

Bitcoin traded down 1.7% in the past 24 hours at $102,267 at press time, according to The Block's price page. Over the past day, Official Trump memecoin shed 10% to change hands at $12.48.