Hedera Hashgraph co-founder Jordan Fried to lead latest Bitcoin treasury company, listed in both US and Israel
Quick Take Hedera Hashgraph co-founder Jordan Fried will come on as chief executive officer and director at the end of the month to lead the firm’s new digital asset strategy. ZOOZ Power, listed on both the Nasdaq in the U.S. and TASE in Israel, announced it has secured a $180 million private placement to build a BTC treasury.
Pantera Capital, FalconX, Arrington Capital, among others, are backing the latest Bitcoin reserve company . On Tuesday, Tel Aviv-based ZOOZ Power, listed on both the Nasdaq in the U.S. and TASE in Israel, announced it has secured a $180 million private placement to build a BTC treasury.
The move reportedly makes ZOOZ Power the first crypto treasury company to be dual-listed in both countries.
ZOOZ is a leading provider of flywheel-based power boosting and energy management solutions, with reported use cases in the electric vehicle charging market.
The PIPE, which remains subject to shareholders’ approval by Sept. 8, will offer 180 million of the company’s shares and pre-funded warrants at a purchase price of $1.00 per ordinary share. ZOOZ also expects to close a $5 million private placement with unnamed investors to fund additional purchases and corporate expenses.
Hedera Hashgraph co-founder Jordan Fried will come on as chief executive officer and director at the end of the month to lead the firm’s new digital asset strategy. He will be joined on the board as new hires by other notable figures, including John Christodoro, who has served on the boards of PayPal, Herbalife, and Lyft, among others, and Todd Thomson, former CFO of Citigroup.
ZOOZ intends to use approximately 95% of the net proceeds to execute its Bitcoin treasury strategy after repaying approximately $3 million in outstanding promissory notes and other expenses. The standing CEO Erez Zimerman will continue to lead ZOOZ’s power business.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Dark Side of Altcoins
Why is it said that almost all altcoins will go to zero, with only a few exceptions?
On the night of the Federal Reserve rate cut, the real game is Trump’s “monetary power grab”
The article discusses the upcoming Federal Reserve interest rate cut decision and its impact on the market, with a focus on the Fed’s potential relaunch of liquidity injection programs. It also analyzes the Trump administration’s restructuring of the Federal Reserve’s powers and how these changes affect the crypto market, ETF capital flows, and institutional investor behavior. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of the generated content are still being iteratively updated.
When the Federal Reserve is politically hijacked, is the next bitcoin bull market coming?
The Federal Reserve announced a 25 basis point rate cut and the purchase of $40 billion in Treasury securities, resulting in an unusual market reaction as long-term Treasury yields rose. Investors are concerned about the loss of the Federal Reserve's independence, believing the rate cut is a result of political intervention. This situation has triggered doubts about the credit foundation of the US dollar, and crypto assets such as bitcoin and ethereum are being viewed as tools to hedge against sovereign credit risk. Summary generated by Mars AI. The accuracy and completeness of this summary are still in the process of iterative updates.
x402 V2 Released: As AI Agents Begin to Have "Credit Cards", Which Projects Will Be Revalued?
Still waters run deep, subtly reviving the narrative thread of 402.
Trending news
MoreCrypto prices
More
