Eightco Raises $270M to Launch First Public Worldcoin Treasury Strategy
Key Takeaways:
- Eightco raised $270 million to purchase Worldcoin as its foremost treasury asset, with Ethereum and money as secondary holdings.
- Institutional backers embody Kraken, Pantera, GSR, and Brevan Howard, indicating rising curiosity in identity-linked digital property.
- Dan Ives joins as Chairman, calling Proof of Human a core element for belief in an AI-driven economic system.
Eightco Holdings Inc. has completed a $270 million personal placement to fund the business’s first Worldcoin (WLD) treasury technique, the corporate introduced in a press release revealed on September 10.
The financing was led by MOZAYYX, with participation from institutional traders together with World Foundation, Discovery Capital Management, Kraken, Pantera, GSR, Coinfund, and Brevan Howard. BitMine Immersion contributed $20 million.
Eightco Treasury Plan Focuses on Worldcoin
Eightco stated the proceeds will probably be used primarily to purchase and maintain Worldcoin as its reserve asset, with money and Ethereum serving as secondary reserves. The firm described the technique as a transfer to embed Worldcoin in its stability sheet whereas persevering with its core enterprise operations.
“Since asserting the personal placement, we’ve seen large curiosity in OCTO and Worldcoin,” stated Dan Ives, who has been appointed Chairman of the Board.
Eightco additionally confirmed that its Nasdaq ticker will change from OCTO to “ORBS” starting September 11. The firm emphasised that no different company actions are being undertaken that might have an effect on excellent shareholder rights.
Institutional Support for Proof of Human
Worldcoin was co-founded by Sam Altman, who stated the venture’s aim is to ship a digital identification system rooted in “Proof of Human.” The community makes use of iris-scanning Orb gadgets to confirm distinctive people, enabling token distribution.
Ives linked the technique to AI adoption. “Proof of Human is the following essential step within the AI revolution, and World is uniquely positioned to ship the belief, verification and authentication that the world wants as AI turns into extra deeply embedded in each side of our lives,” he stated.
Eightco stated group participation by means of the World Foundation will stay a part of its long-term method to constructing out this treasury initiative.
While most treasuries have targeted on Bitcoin or Ethereum, introducing biometric-linked property brings new regulatory and classification challenges.
Wider adoption of such tokens could reshape how corporations interact with public blockchain infrastructure. It additionally raises questions round compliance, custody, and accountability when company stability sheets start to embody identity-tied digital property.
Frequently Asked Questions (FAQs)
Most companies will possible look forward to clearer steerage on how biometric-linked property are categorised underneath accounting and regulatory frameworks earlier than committing stability sheet allocations.
Yes, if market liquidity, custody options, and reporting requirements mature, corporations could develop past BTC and ETH for strategic publicity.
Holding an rising identification token could also be seen as high-risk by conventional traders, particularly amid evolving AI and privateness regulation.
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