Addenntax, a publicly traded company with a market value of only $4.4 million, announced plans to purchase approximately $800 million worth of cryptocurrency assets

According to The Block, Addendax Group Corp., a clothing manufacturer listed on NASDAQ, has released a statement stating that it is in talks with "influential holders" of cryptocurrencies such as Bitcoin and Trump themed Meme to acquire encrypted assets worth approximately $800 million. The company stated that it will raise funds through the issuance of ordinary shares, but emphasized that a final agreement has not yet been reached. However, according to Yahoo Finance, the company's market value is only $4.4 million. Addenntax stated in a statement that the counterparties hold a total of approximately 8000 BTC and possess deep industry resources. The CEO of the company, Hong Zhida, stated that this move aims to promote the blockchain strategy and incorporate highly liquid and institutional favored encrypted assets into long-term holding plans. It is worth noting that Addendax's core business is still clothing manufacturing and logistics services.