Nasdaq-listed company TRNR aggressively enters AI cryptocurrency: $500 million extravagantly buys Fetch.ai tokens (FET)

Fitness technology company Interactive Strength invests a maximum of $500 million to acquire Fetch.ai tokens, striving to become the largest AI token holder among publicly listed companies in the United States, with the market watching whether this cross-border operation can bring a win-win situation for both the company and FET. (Background: Eric Trump, the second son of Trump, denies joining Tron for a reverse merger listing of a new company, and SRM Entertainment's stock skyrocketed 533% overnight) (Additional background: Sun Yuchen wants to make TRON public in the United States! The Tron network is quickly IPOing through a reverse merger with SRM, and Trump is also involved?) Smart mirrors (intelligent mirrors that can be used during exercise) manufacturer Interactive Strength (Nasdaq: TRNR) is heavily investing in cryptocurrency. Today, the company announced that it has initiated its cryptocurrency asset strategy with a first round investment of $55 million, looking to ultimately scale up to $500 million, all to purchase Fetch.ai (FET) tokens. If the plan is completed, TRNR may become the company holding the largest scale of AI tokens among U.S. listed companies. First round of $55 million secured The company completed its first financing of $55 million through a securities purchase agreement on June 13, with funds coming from private equity firm ATW Partners and cryptocurrency market maker DWF Labs. TRNR has commissioned custodian BitGo to gradually purchase FET in the open market. According to Financial Modeling Prep quotes on the 14th, TRNR's stock closed at $0.74, rising 6.2% for the day. Why target FET? FET is among the top 50 cryptocurrencies by market capitalization and is one of the top five AI-themed tokens. Coingecko data shows that FET was quoted at $0.677 before the deadline. TRNR has reached a technical collaboration with Fetch.ai, integrating the latter's autonomous agents into TRNR's digital fitness platform to help create an AI-driven personal training experience. The company plans to use BitGo's multi-signature custody to ensure the safety of the tokens. What is the cryptocurrency community's assessment? DWF Labs commented: "This represents the next wave of AI-driven digital assets arriving in the corporate capital market." Outside the cryptocurrency circle, Synaptogenix also plans to establish a TAO token pool of up to $100 million, indicating that traditional companies are quickly testing AI tokens. For TRNR, successful execution is expected to expand its balance sheet and strengthen its brand, but price volatility in cryptocurrencies, regulatory variables, and challenges in technological integration remain "unknowns." Related reports Eric Trump, the second son of Trump, denies joining Tron for a reverse merger listing of a new company, and SRM Entertainment's stock skyrocketed 533% overnight. Will Solana ETF be listed in July? The SEC requires issuers to submit revised S-1 documents, showing goodwill on staking functions. "Nasdaq-listed company TRNR aggressively enters AI cryptocurrency: $500 million extravagantly buys Fetch.ai tokens (FET)" This article was originally published by BlockTempo (BlockTempo - the most influential blockchain news media).