Chinese Company ATXG Reveals $800M Plan to Buy BTC and TRUMP Tokens

A small Chinese company has announced plans to acquire a large portfolio of cryptocurrency assets, including Bitcoin and the meme-based TRUMP token, using stock-based financing. Addentax Group Corp. (Nasdaq: ATXG), a textile and logistics firm, disclosed that it is in talks with several cryptocurrency holders to acquire digital assets worth up to $800 million.

These discussions are centered around acquiring up to 8,000 Bitcoins and other tokens like Official Trump through the issuance of new shares of common stock. No binding agreements have been made yet, but the company said that the talks involve influential crypto holders with a strong presence in the sector.

ATXG Plans to Issue Stock in Exchange for Crypto Assets

Addentax stated that its approach involves issuing new common stock to holders of various cryptocurrencies in exchange for digital assets. According to the company, the goal is to use these assets as part of a long-term investment and holding strategy.

The firm explained that discussions have been held with individuals and entities believed to collectively hold approximately 8,000 BTC. ATXG described them as experienced market participants with extensive networks in the cryptocurrency world.

“This initiative supports the Company’s broader blockchain strategy,” said CEO Hong Zhida. He also added that the move will help bring experienced crypto investors onto the company’s shareholder register.

Addentax Group believes that this move could improve its balance sheet by bringing in liquid and widely traded digital assets, while also attracting shareholders with experience in digital markets.

Related Moves by GD Culture Group Raise Questions

Addentax Group’s announcement comes shortly after GD Culture Group, another little-known Chinese firm, revealed a large investment in crypto. According to a securities filing reported by The New York Times, GD Culture Group said it had acquired $300 million worth of Bitcoin and TRUMP tokens.

Despite having only eight employees and reporting zero revenue last year, GD Culture made the investment through a stock sale to an undisclosed entity based in the British Virgin Islands. The lack of details around the deal has drawn attention from market observers.

The TRUMP token, created as a meme coin with political associations, has seen rising attention, although it lacks any underlying use case or intrinsic value. Reports suggest some investors view it as a tool to gain influence or access in political circles.

Donald Trump-Linked Crypto Projects Face Regulatory Scrutiny

At the same time, there is growing regulatory attention on crypto ventures tied to President Donald Trump. On Capitol Hill, House Democrats are seeking records from the Treasury Department regarding suspicious financial activities involving Trump-related crypto efforts.

A letter sent to Treasury Secretary Scott Bessent requested access to suspicious activity reports (SARs) connected to Trump’s cryptocurrency projects. The letter was signed by leading Democrats from three major House committees.

Meanwhile, Movement Labs, which is backed by Donald Trump-affiliated World Liberty Financial (WLFI), is also facing criticism. Leaked documents suggest the project failed to disclose deals made with early investors, raising concerns about transparency. The price of MOVE, the project’s token, dropped more than 6% following these reports.

Lawmakers have pointed to possible conflicts of interest and are calling for further investigation. These developments come at a time when crypto-related political finance is under wider scrutiny from both federal regulators and watchdog groups.

ATXG Pursues Expansion into Digital Asset Market

ATXG emphasized that its current move is part of a broader plan to engage with blockchain technology and digital finance. Management sees digital assets like Bitcoin as being liquid and increasingly accepted by institutional investors.

By acquiring these assets and adding crypto-experienced investors to its shareholder base, ATXG aims to improve its market position and financial strength. The company also views this strategy as a step toward building closer relationships within the cryptocurrency ecosystem.

ATXG has not provided a timeline for when a deal may be finalized, and all talks are currently non-binding. However, the company described the acquisition plan as a “core action” of its crypto strategy.