Fitness-Quipment Manufacturer Interactive Strength (TRNR) said it signed a Safe Circuit Agreement to raise as much as $ 500 million to buy fetch.ai’s FET-token as a crypto-state-box strategy.
The Nasdaq-listed company is already buying tokens after collecting $ 55 million of new capital from ATW Partners and DWF Labs, said in a release that was shared with Coindesk.
“Digital assets quickly become a significant part of the global economic infrastructure, and AI is the biggest technological leap in our lifetime,” said CEO Trent Ward in the statement. “We believe that our strategy for acquiring a significant number of $ FET-tokens can dramatically speed up our mission to create a significant long-term value for TRNR shareholders.”
Interactive Strength, the manufacturer of CLMBR and Forme Branded Equipment, joins a long list of public companies in us that add cryptocurrencies to their balance. Most, led by strategy (Mstr), is focused on Bitcoin
. None of these companies have acquired AI symbols as FET.
TRNR, which has a market capital of $ 8.4 million, will use Bitgo for trading and custody of its FET stocks, according to the press release. Its shares rose 3.5% to 83 cents in trading before the market.
