According to Odaily, BioNexus Gene Lab Corporation has announced its decision to adopt Ethereum as its primary reserve asset, marking it as the first Nasdaq-listed company to prioritize Ethereum over Bitcoin. In its strategic white paper, BioNexus outlined several reasons for this choice, including Ethereum's ability to generate an annual yield of 3-5% through staking, transforming assets into revenue streams. Additionally, Ethereum has gained recognition from major financial institutions like BlackRock and serves as the infrastructure supporting trillions of dollars in stablecoin transactions. The upcoming Pectra upgrade is also expected to enhance Ethereum's value further.
BioNexus is currently facing financial challenges, with its stock price at $0.32, reflecting a 61% decline. The company has received a non-compliance warning from Nasdaq and plans to conduct a reverse stock split in April this year to address the issue.
