Mentioned:
A public company on the Nasdaq has just raised a large round of fresh funding. And they’re planning to use it to ramp up their bet on digital assets.
What’s happening:
- Thumzup Media (NASDAQ: TZUP) has successfully raised $50M USD in a new equity financing round
- The new funding round was led by Dominari Securities
Why it matters:
- Thumzup Media has publicly stated that the new growth capital will go towards accumulating more cryptocurrency and also to expand into purchasing hardware for the purpose of mining digital assets for the first time ever
Going deeper:
- Thumzup Media currently holds Bitcoin directly as an asset and has publicly stated they plan to begin accumulating up to $250M USD of other digital assets, including Dogecoin and Ethereum
- Dominari Securities has led the last two financing rounds for Thumzup Media, which notably follows their participation in the $200M USD capital raise for Eric Trump and Donald Trump Jr’s Bitcoin mining company American Bitcoin
