Interactive Strength (TRNR) closed on the initial $55 million investment for its crypto treasury strategy on Friday, June 13th and began acquiring $FET tokens in the open market over the weekend, due to crypto’s 24/7 trading, through its custodian, BitGo. TRNR will continue to acquire $FET in the open market with the remaining net proceeds of the initial funding, and with any net proceeds from additional fundings from the $500 million facility as they are closed. The $FET purchases from the initial funding are expected to result in TRNR holding the largest publicly listed crypto treasury focused on an AI-token. $FET is a top-50 cryptocurrency and a top-5 AI-focused cryptocurrency by market capitalization according to coinmarketcap.com. The initial $55 million was invested by private equity firm ATW Partners and crypto market maker DWF Labs.
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