Nasdaq-listed BioNexus becomes first company to adopt Ethereum reserve strategy

Odaily News BioNexus Gene Lab Corporation announced that it has adopted Ethereum as its preferred reserve asset, becoming the first Nasdaq-listed company to abandon Bitcoin and prioritize Ethereum. In its published strategic white paper, BioNexus highlighted the key reasons for choosing Ethereum instead of Bitcoin: Ethereum staking can generate an annualized return of 3-5% to convert assets into a source of income; it has been recognized by major financial institutions such as BlackRock; the infrastructure that supports trillions of dollars in stablecoin transactions; and the upcoming Pectra upgrade will further enhance its value. The company is currently facing financial difficulties, with a share price of $0.32, which has fallen 61%, and has received a non-compliance warning from Nasdaq. It plans to conduct a reverse stock split in April this year to resolve this issue. (Decrypt)