The shares of Eightco Holdings (Nasdaq: Octo) increased more than 3,000% on Monday, after the announcement of the company of a bold movement to adopt Worldcoin (WLD) as its main treasure reserve asset.
Key control:
- Eight Ochoco shares increased more than 3,000% after announcing a $ 250 million plan to adopt Worldcoin as its main treasure asset.
- The company will change the name of its ticket for “orbs”, aligning with the Iris scan devices of Worldcoin.
- Eight of eight joins a wave of companies entering cryptographic treasures, following the path of Microstrategy and Bitmine.
The small and well -known electronic commerce inventory platform revealed plans to raise $ 250 million through a private placement of 171.23 million shares common to $ 1.46 each, with the aim of building a substantial position in the cryptographic project backed by Sam Altman.
The offer is expected to close Thursday, with strategic participants such as the World Foundation, Kraken and Falconx.
Eight Ochoco shares fired from $ 1.45 on Friday at $ 45.08 at the end of Monday, a gain of 3,009%, after briefly reaching a maximum intradia above $ 80.
Trade after hours saw the action cooled slightly, falling almost 6% to $ 42.40.
The company said that Ethereum (ETH) can also accumulate as a secondary asset, but its main approach will be in Worldcein, the controversial cryptocurrency project based on the IRIS-SCAN led by World Network, previously known as tools for humanity.
Ochoco also announced plans to change the name of his ticket for “orbs” to reflect his alignment with the ORB devices of WorldCoin scanning, which are used to broadcast world identifications as personality test on an internet increasingly driven by AI.
Worldcoin, co -founded by the Operai CEO, Sam Altman, aims to verify human identity online using biometric data. In return, users receive WLD tokens and access to a growing ecosystem of services.
While the project has won traction, it also faced a great scrutiny of regulators and privacy guards, resulting in restrictions and prohibitions in multiple countries.
“If we succeed in our mission, the world could become the largest network of real people online,” Altman said in a statement.
Ochoco’s move places it in the growing club of public companies that diversify in cryptographic treasure bonds, after the played book popularized by companies such as Microstrategy and Bitmine Immersion Technologies, the last of which invested $ 20 million in Ochoco as part of its broader cryptographic strategy.
Dan Iives appointed president of Ochoco in the middle of Worldcoin Pivot
As part of the announcement, Dan IVES, Chief of Technological Research of Wedbush Securities, was appointed president of the Ochoco Board.
Known for its optimistic views on AI and disruptive technologies, IVES described the movement “the next step in the AI revolution around authentication and proof of humans.”
Meanwhile, Worldcoin has increased 49.2% in the last 24 hours, quoting $ 1.54, with a seven -day gain of more than 80%. Despite the demonstration, the Token continues to fall almost 87% from its historical maximum of $ 11.74 in March 2024.
As reported, the WorldCoin Digital Identity System, World ID, has exceeded 100 million uses in third -party applications, marking an important milestone for Sam Altman’s identity crypto initiative.
However, the growing regulatory pressure and uncertainty continue to weigh on the project, which causes a brand change to World Network and the launch of new identity tools such as the verification of NFC passports, aimed at the incorporation of privacy.
France, Portugal, Spain, Hong Kong and South Korea have launched research on project data practices.
The publication of eight shares rises to 3,000% in a world treasury plan of $ 250 million first appeared in Cryptonews.
