Unicoin Acquires 51% Stake in Diamond Lake Minerals for $70 Million

Unicoin will acquire a 51% stake in Diamond Lake Minerals, which will be renamed DiamondLake and focus on building a cryptocurrency treasury business centered around altcoins.

The acquisition deal is valued at over $70 million, based on Diamond Lake's share price of $3.96.
Expected closure of the deal is within 20 days, pending standard conditions.
Unicoin CEO Alex Konanykhin cites legislative changes, like the GENIUS Act, as factors that may enhance altcoin potential.
Konanykhin believes altcoins can deliver results similar to Bitcoin at lower costs.
DiamondLake aims to tokenize real-world assets for everyday investors.
This acquisition follows an SEC lawsuit against Unicoin and its executives for alleged securities fraud involving over $100 million.
Konanykhin has denied the charges and criticized the SEC's actions as harmful to the crypto industry.