Animoca to Invest $100M in DDC's Bitcoin Treasury

DDC Enterprise (NYSE: DDC), a major Asian food company, has teamed up with Hong Kong-based Animoca Brands, a web3 game developer and venture firm, to enhance its bitcoin treasury. Through a non-binding memorandum of understanding, Animoca will provide up to $100 million in Bitcoin (BTC) to support DDC's yield enhancement strategies. Yat Siu, Co-Founder and Executive Chairman of Animoca, will also join DDC's newly formed Bitcoin Visionary Council, contributing to the firm's bitcoin treasury strategy. DDC Enterprise's Founder and CEO, Norma Chu, remarked, “This partnership marks a transformative step for DDC and aligns with our vision to position Bitcoin as a key monetary asset.” Siu’s expertise will be crucial in guiding DDC’s strategic direction in the Bitcoin ecosystem. Previously, DDC secured commitments of up to $528 million aimed at expanding its bitcoin treasury, which held 368 BTC valued at approximately $43.3 million as of July 7, reflecting a 48.3% yield increase from its mid-June purchases. Yat Siu stated, “Our collaboration allows Animoca Brands to enhance the value of our blockchain technologies while maximizing our Bitcoin holdings.” This partnership aims to develop strategies that enhance Bitcoin's value proposition leveraging DDC's dedication to corporate Bitcoin treasury solutions. Bitcoin is currently trading at $117,600, having peaked at $119,000 earlier today, with a trading volume of $82 billion in the last 24 hours according to The Block. DDC Enterprise is widely recognized for its DayDayCook food brand, which offers culinary content and food products. The company has offices in New York, Hong Kong, and Shanghai, with DDC shares increasing approximately 12.4% to $12.10 at the time of reporting.