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)