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The board of directors of the listed company GD Culture approved the sale of 7,500 bitcoins
According to GlobeNewswire, Nasdaq-listed company GD Culture announced that its board has authorized the approval to sell, exchange, or dispose of its current holding of 7,500 bitcoins, aiming to fund the previously announced share repurchase plan.
It is reported that the sale of these bitcoins will be conducted in multiple phases, executed flexibly by the management in the best interest of the company and its shareholders. The proceeds from the sale of bitcoins will be used to repurchase the company's common stock and cover related expenses, including brokerage commissions, fees, and taxes.
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