Interactive Strength to Raise Up to $500 Million for Fetch.ai Tokens
Interactive Strength (TRNR) has signed a securities purchase agreement to raise up to $500 million to acquire Fetch.ai's FET token as part of its crypto treasury strategy.
- Company raised $55 million from ATW Partners and DWF Labs.
- CEO Trent Ward emphasized the importance of digital assets in global finance and AI's role in technology.
- TRNR aims to create long-term value for shareholders through this acquisition.
- Market cap stands at $8.4 million; shares rose 3.5% to 83 cents in pre-market trading.
- Trading and custody of FET will be managed by BitGo.
TRNR joins a growing number of U.S. public companies incorporating cryptocurrencies, primarily focusing on Bitcoin, marking a unique move towards acquiring AI tokens like FET.