Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
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Reliance Global, a US-listed company, will invest a total of $120 million in cryptocurrencies in phases.
2hours ago

Odaily Planet Daily News: Insurance technology company Reliance Global Group, Inc. (NASDAQ: RELI) announced that its board of directors has approved its strategic expansion into the digital asset and blockchain fields. As part of the plan, the company plans to build a diversified investment portfolio that includes cryptocurrencies such as Bitcoin, Ethereum, and Solana. According to the company's new digital asset funding strategy, the company plans to purchase up to $60 million in digital assets in the first phase, and then purchase up to $60 million thereafter, for a total of up to $120 million. These assets will be managed by the company's newly established Cryptocurrency Advisory Committee and will be subject to market and other conditions. In addition, Reliance is exploring opportunities to tokenize insurance-related assets. (Globe Newswire)