OceanPal’s $120 Million NEAR Push Sends Stock Plummeting By Nearly 21%
OceanPal Inc. introduced that it has raised $120 million to launch its digital asset treasury technique, centered on the NEAR Protocol’s native token. The Nasdaq-listed delivery agency turns into the most recent conventional firm to diversify into digital property, reflecting a broader pattern of company adoption throughout the crypto sector.
Still, OceanPal’s shares fell following the announcement, highlighting doable investor skepticism about its pivot towards blockchain-based holdings.
OceanPal Dives into Digital Assets with $120 Million NEAR Bet
According to the press launch, OceanPal closed its $120 million non-public funding in public fairness (PIPE) to fund SovereignAI Services LLC. It is a subsidiary tasked with commercializing the NEAR Protocol.
SovereignAI’s treasury aim is to amass not less than 10% of NEAR’s token provide, making it one of many leading institutional holders of this asset.
“As a results of this transaction, OP, by means of SovereignAI, is predicted to function the main public funding car to realize publicity to NEAR, the NEAR Protocol’s native token, and the foundational AI infrastructure wanted to allow agentic commerce,” the press release reads.
The firm additionally plans to leverage the capital generated by means of its treasury administration technique to develop a confidential AI cloud infrastructure constructed on NVIDIA technology and powered by NEAR.
Notable buyers backed the transaction, including Kraken, Proximity, Fabric Ventures, and the G20 Group. OceanPal additionally introduced new govt appointments to bolster the digital asset enterprise.
Sal Ternullo joins as co-CEO, and David Schwed is COO. The advisory board options NEAR CEO Illia Polosukhin and advisors from OpenAI and Fabric Ventures.
“This is a public firm launching as an energetic, strategic companion with the NEAR Foundation to advance a shared imaginative and prescient of common AI sovereignty by leveraging the NEAR Protocol’s vertically built-in AI merchandise and rails, which have been purpose-built for these precise use instances. We plan to make use of this decentralized, confidential compute infrastructure to capitalize on the explosive demand for privacy-first, regulatory compliant AI throughout enterprise markets together with finance, healthcare, and media whereas enabling companies and customers to keep up management and possession,” Ternullo stated.
Market Reaction and Stock Performance
While OceanPal pursues its new crypto and AI strategy, it says world delivery operations will proceed. Yet, latest monetary outcomes level to challenges.
As of June 2025, income was $3.08 million, down 54.3% 12 months over 12 months. The firm’s internet loss was $5.22 million, and its revenue margin was -169.53%.
Meanwhile, Google Finance information confirmed that OceanPal’s newest announcement prompted the stock prices to drop. OP closed at $1.74, down 20.91%. Overall, the inventory has confronted a tricky time this 12 months, decling 94% year-to-date.
NEAR Protocol’s native token has also declined alongside OceanPal’s inventory. According to BeInCrypto Markets information, NEAR traded at $2.24 at press time, exhibiting a 4.37% loss over the previous 24 hours and a 20.7% decline over the month.
As each OceanPal and NEAR face market headwinds, the success of this bold pivot into blockchain-powered AI stays to be seen.
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