"Crypto's newest craze is attracting some big names-including one of Tesla's biggest bulls. On Monday, Dan Ives, an analyst at the financial advisory firm Wedbush Securities and one of the most vocal cheerleaders behind Elon Musk's electric car company, became chair of a small, publicly traded company that aims to load its balance sheet with cryptocurrency. Eightco Holdings, a firm that specializes in packaging and retail inventory management, announced that it had raised $250 million"
"Ives is a widely recognized Wall Street figure, but he made his name as an analyst, not as the operator of public companies. He may appear to be a strange choice to oversee a board-let alone one devoted to accumulating cryptocurrency-but his appointment comes amid a rush of big names on the boards of so-called digital asset treasury companies, or public firms whose primary aim is to accumulate cryptocurrency,"
Dan Ives accepted the chairmanship of Eightco Holdings, a publicly traded firm that plans to load its balance sheet with cryptocurrency. Eightco raised $250 million in a private share offering to buy Worldcoin, a token tied to the World project backed by OpenAI cofounder Sam Altman. The appointment of high-profile figures to public company boards is occurring alongside a rise in digital asset treasury companies focused on accumulating tokens. Other notable board moves include figures affiliated with Dogecoin and Solana. Since January, 209 companies announced plans to raise more than $145 billion for crypto treasury strategies.
Read at Fortune Crypto
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