Zhibao Tech Secures $154.7M in Crypto-Backed Financing

Nasdaq-listed Zhibao Technology has completed a significant financing round. The company secured $154.7 million through a private investment in public equity (PIPE) deal. This was done using 2,380 Bitcoin, which were directly transferred into the firm's wallet.

The move marks a strategic pivot for Zhibao's treasury, incorporating cryptocurrency into its financial strategy. By utilizing Bitcoin as collateral, Zhibao is taking advantage of the flexibility and potential returns offered by digital assets.