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Tian Ruixiang to Trade Shares for 15,000 BTC in New Partnership

Key Takeaways

  • ​Tian Ruixiang Holdings Ltd plans to receive up to 15,000 BTC from an unnamed investor in return for company shares;
  • The company and its partner will build a joint lab focused on AI tools, blockchain apps, and DeFi solutions;
  • If completed, the deal would make Tian Ruixiang one of the world’s top public firms holding Bitcoin.

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Tian Ruixiang to Trade Shares for 15,000 BTC in New Partnership

Tian Ruixiang Holdings Ltd, listed on Nasdaq as TIRX, has agreed to a deal that could give it a large amount of Bitcoin BTC $75,896.68 in return for company shares.

The company said an unnamed investor plans to contribute up to 15,000 BTC in exchange for equity.

Along with the Bitcoin-for-shares arrangement, both sides plan to collaborate on projects involving artificial intelligence (AI) and blockchain.

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They intend to launch a joint lab to develop AI-based tools for trading and risk control, as well as blockchain products, decentralized apps (dApps), and solutions for Layer-2 networks, decentralized finance (DeFi), and non-fungible tokens (NFTs).

Tian Ruixiang described the investor as a global player in the digital asset industry with a background in crypto and technology. However, no information has been shared about when the deal will close or how the Bitcoin transfer and custody will be managed.

Founded in 2010, the company operates in China as an insurance broker, offering property and casualty insurance through its subsidiaries.

If the deal goes through, Tian Ruixiang would join the list of major public companies holding Bitcoin, ranking around eighth worldwide. For comparison, Coinbase $2.78B holds roughly 14,548 BTC, while Riot Platforms owns about 18,005 BTC, according to BitcoinTreasuries.NET.

Recently, Metaplanet, listed on the Tokyo Stock Exchange, approved a plan to raise up to $137 million in overseas funding. What did the company say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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