Forget Bitcoin: Publicly Traded Firm Building $500 Million Crypto Treasury With FET

As companies and governments consider adding Bitcoin to theirs treasuryAustin, an interactive strength based in Texas, is moving to a different route-it is up to $ 500 million to buy a fetch.ai (fet) token as part of the targeted cryptocurrency strategy.

Instead of following the trend posture Bitcoin as a signal of protection or brand, the interactive force binds its cryptocurrency directly to its AI integration plan, announcing the closing of an initial investment of $ 55 million by the private company ATW Partners and Crypto Market Maker DWF Labs to be used to acquire a FET.

“This is the target distribution of $ 500 million to open FET Token,” said the co-founder and the Executive Director of the Interactive Trent Ward Decipher in an interview. “None of that capital goes to other tokens.”

Founded in 2017, Interactive forces produce fitness equipment and digital training products, including vertical climbing machines and connected fitness mirrors. The interactive power became a public trade in 2023, when his shares (TRNR) began to trade on Naddaq.

Reach.ai is a platform based on a blockchain that develops decentralized AI tools and is founder a member of the Union of Artificial SuperINtelligencies, along with Singularity and ocean protocol. Fet Serves as an original token that supports the joint AI infrastructure of the Alliance.

Ward said that the choice of FET, not of broad property like Bitcoin, reflected the company plan to include Fetch.ai technology in his product offer.

“We think there is real growth, value and usefulness in the toast,” he said. “We expect to develop products using FETCH technology, so we need a token for its usefulness on the platform. Buying earlier and including investors allows us to reduce costs and more effective execution.”

Ward said the company would get fet tokens in stages, starting at $ 55 million from initial financing. The interactive power will eventually publish additional supplies for direct market purchase.

Former investment banker and Hedge Fund, Ward said that improvement of legal and regulatory conditions in the United States, after the presidential election in 2024, made a strategy for the Crypto Treasury Sustainable from the perspective of compliance.

“Our lawyers are now much more relaxed than when we first started talking about it,” he said, acknowledging the growing corporate fascination with a crypto currency. “The market seems to support the idea that there is a premium on the value of capital associated with the Crypto Treasury Strategies.”

Ward said that a meeting with AI -Aa Fetch executive, Humayun Sheikh and a recent acquisition helped inform the decision to launch a Fet Token Treasury.

“A meeting with Humayun and a team team explained that their technology can improve our offer,” he said. “In the meantime, the German company we get, Sportstech, has already used AI in its products. Seeing those tools in the action showed their value and helped us connect the dots – that was the right move for us.”

Edited Andrew Hayward