US-listed Interactive Strength Announces $500 Million Funding Plan to Accumulate Fetch (FET)
Summary
- Interactive Strength reportedly announced a plan to raise funds for the purchase of up to $500 million worth of Fetch (FET).
- It was revealed that they have already secured $55 million from ATW Partners and DWF Labs to acquire Fetch.
- The company stated that, through accumulation of the AI-based digital asset Fetch, they aim to create long-term value for shareholders.
Interactive Strength (Interactive Strength), a fitness solutions provider listed on Nasdaq, is reportedly planning to purchase up to $500 million worth of Fetch (FET).
According to CoinDesk on the 11th (local time), Interactive Strength intends to raise up to $500 million as part of its strategic cryptocurrency reserve plan. Through this, they aim to accumulate Fetch.
The outlet stated, "Interactive secured $55 million in funding from ATW Partners and DWF Labs and has already purchased Fetch," adding, "Unlike other listed companies that stockpile Bitcoin (BTC), Interactive is employing a unique strategy of investing in AI-based digital assets."
Trent Ward, CEO of Interactive, said, "Digital assets are a core element of global financial infrastructure, and AI represents the biggest technological leap forward," adding, "By accumulating Fetch, an AI-based token, we aim to create long-term value for our shareholders."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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