Chinese Firms’ Plan to Avoid Stock Delisting: Buy Trump’s Memecoin

A technology company called GD Culture Group said on May 12 that it had struck a $300 million funding deal to help it amass a stockpile of cryptocurrencies, including bitcoin and the president’s memecoin, $TRUMP. The announcement sent shares of GD Culture, which is based in New York but operates in China, up by 14%. Three days later, Chinese garment maker Addentax Group said it was in discussions with unnamed crypto holders to buy up to $800 million of $TRUMP tokens and bitcoin.