#DinnerWithTrump Chinese Company ATXG Reveals $800M Plan to Buy BTC and TRUMP Tokens
A small Chinese company has announced plans to acquire a large portfolio of cryptocurrency assets, including Bitcoin and the meme-based TRUMP token, using stock-based financing. Addentax Group Corp. (Nasdaq: ATXG), a textile and logistics firm, disclosed that it is in talks with several cryptocurrency holders to acquire digital assets worth up to $800 million.
These discussions are centered around acquiring up to 8,000 Bitcoins and other tokens like Official Trump through the issuance of new shares of common stock. No binding agreements have been made yet, but the company said that the talks involve influential crypto holders with a strong presence in the sector.
At the same time, there is growing regulatory attention on crypto ventures tied to President Donald Trump. On Capitol Hill, House Democrats are seeking records from the Treasury Department regarding suspicious financial activities involving Trump-related crypto efforts.
A letter sent to Treasury Secretary Scott Bessent requested access to suspicious activity reports (SARs) connected to Trumpโs cryptocurrency projects. The letter was signed by leading Democrats from three major House committees.
Meanwhile, Movement Labs, which is backed by Donald Trump-affiliated World Liberty Financial (WLFI), is also facing criticism. Leaked documents suggest the project failed to disclose deals made with early investors, raising concerns about transparency. The price of MOVE, the projectโs token, dropped more than 6% following these reports.
Lawmakers have pointed to possible conflicts of interest and are calling for further investigation. These developments come at a time when crypto-related political finance is under wider scrutiny from both federal regulators and watchdog groups.$TRUMP
