As Ethereum (ETH) and many altcoins continue to be adopted by major corporations as part of their financial strategies, some very surprising new altcoin news has emerged.
Nasdaq-listed Greenlane Holdings (GNLN) has announced a $110 million private placement to fund a crypto treasury strategy focused on the VeraChain (BERA) token, according to an official statement.
The funds raised, led by Polychain Capital and other investors, will be used to purchase BERA for the national treasury.
Greenlane plans to use these funds to pursue a BERA-based treasury strategy (DAT), strategically acquiring BERA and incorporating it as a key reserve asset.
This will be the first and only Berachain (BERA) digital asset vault supported by the Berachain Foundation.
The firm’s VeraChain Treasury Strategy, VeraStrategy, will be led by Ben Eisenberg, who will be named chief investment officer upon completion of the transaction, with Bruce Linton joining as chairman and Billy Levy as director.
Ben, BeraStrategy’s new Chief Investment Officer Isenberg said, “We believe BERA’s key differentiator is its yield. Unlike historic PoS chains like Ethereum and Solana, BERA’s yield is generated by monetizing block rewards. We believe that the entire Vera chain has untapped potential for company growth. The team has built one of the most recognizable brands in the crypto world to date, and we believe in that.” A market that can grow with visibility through traditional capital. ”
Following this news, the price of Vera Chain (BERA) rose.
*This is not investment advice.
