Jiuzi Holdings raises $80 million through a private placement to support the construction of a cryptocurrency treasury

According to Globenewswire, Nasdaq-listed company Jiuzi Holdings announced that it has reached and signed an investment agreement with a strategic investment institution, which will subscribe to 40 million shares of its common stock at a price of $2 per share, for a total investment amount of $80 million. The initial investment funds have been delivered, and the new funds will be used to expand cash reserves to support the construction of a cryptocurrency treasury, formulate asset allocation strategies, etc. The treasury is expected to consist of various cryptocurrencies, including Bitcoin, Ethereum, and stablecoins.