Tiny Company with China Bindes announces a large purchase of Trump Cryptocurrency

A fighting technology company that has connections to China and is dependent on Tikkok made an unusual announcement this week. The financing had been given to buy up to $ 300 million Trump, the so-called Memecoin, which was marketed by President Trump.

The GD Culture Group, a listed company with a Chinese subsidiary, has only eight employees, as its public submissions did not achieve any income from an e-commerce company last year, which it works in Tikok, the Chinese video sharing app.

But on Monday, the GD Culture Group was the latest business with foreign ties to confiscate Mr. Trump's crypto company, which takes over profits directly to the Trump family and generated conflicts of interest that alerted ethics experts. (Memoins like $ Trump are a kind of cryptocurrency that is based on an online joke or a celebrity mascot and traditionally had no use of speculation.)

In its explanation, the GD Culture Group, which is traded on the Nasdaq, announced that it would spend 300 million US dollars for a inventory of Bitcoin and $ Trump, whereby the proceeds from a share sale to a nameless company are used on the British Virgin Islands, a popular tax building. It confirmed this investment plan in a securities registration on Tuesday.

The purchase would cause clear ethical conflicts and at the same time enrich the family of Mr. Trump when the president tries to achieve a deal that would enable Tikok to continue working in the United States instead of standing up for a ban approved by the congress.

The announcement also shows how investors all over the world, including some that have practically no public footprint, have committed to the President's crypto company to strengthen their own business prospects.