BlockBeats news, on June 17, according to official news, Interactive Strength Inc. (Nasdaq code: TRNR) announced today that its first $55 million investment for cryptocurrency reserve strategy was completed on June 13. Subsequently, TRNR began purchasing FET tokens in the open market over the weekend through its custodian BitGo, leveraging the characteristics of cryptocurrency trading around the clock.
TRNR plans to continue using the remaining net proceeds from this initial capital, as well as the additional net proceeds from the upcoming $500 million financing limit, to continually increase its holdings of FET in the open market. It is expected that the FET purchased with this initial capital will make TRNR the largest publicly traded cryptocurrency reserve company focused on AI tokens.
