Publicly listed company Addentax, with a market capitalization of only 4.4 million USD, announced plans to purchase approximately 800 million USD worth of encryption assets.

PANews reported on May 16 that Addentax Group Corp., a Nasdaq-listed clothing manufacturer, announced that it is in talks with "influential holders" of cryptocurrencies such as Bitcoin and Trump-themed Meme coins for an acquisition of crypto assets valued at approximately $800 million. The company stated that it will raise funds through the issuance of additional common stock but emphasized that "a final agreement has not yet been reached." However, according to Yahoo Finance, the company's market capitalization is only $4.4 million. Addentax stated in a declaration that the counterparties collectively hold approximately 8000 BTC and possess deep industry resources. The company's CEO, Hong Zhida, stated that this move aims to promote the blockchain strategy by incorporating liquidity-rich crypto assets favored by institutions into a long-term holding plan. It is worth noting that Addentax's core business remains garment manufacturing and logistics services.