TLDR
- Eightco Holdings invested an additional $40M in OpenAI, bringing its total OpenAI commitment to $90M — roughly 30% of its treasury
- The company secured $125M in new funding from Bitmine ($75M), ARK Invest ($25M), and Kraken parent Payward ($25M)
- ORBS holds nearly 10% of the current WLD (Worldcoin) supply in circulation, making it the largest public market participant in that ecosystem
- Tom Lee, Chairman of Bitmine, has joined ORBS’ Board of Directors; ARK Invest’s Brett Winton will serve as a board advisor
- ORBS also closed an initial $25M strategic investment in MrBeast and Beast Industries
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Eightco Holdings made a series of big moves this week, and the market noticed.
Eightco Holdings Inc., ORBS
The company announced an additional $40 million investment in OpenAI, following a prior $50 million commitment. That brings its total stake in the AI giant to $90 million.
OpenAI now represents roughly 30% of ORBS’ total treasury. Beyond OpenAI, the company holds 277,222,975 WLD tokens, 11,068 ETH, and $76 million in cash and stablecoins.
CEO Kevin O’Donnell framed the move as an access play. “Access to high-growth private companies has historically been limited to institutional investors,” he said, adding that ORBS aims to give retail investors exposure to OpenAI ahead of any potential IPO.
The OpenAI news was just one part of a broader set of announcements. Eightco also revealed it had secured $125 million in new funding commitments.
Bitmine led the round with a $75 million commitment. ARK Invest and Kraken’s parent company Payward each committed $25 million.
New Board Members and Advisors
The capital raise came with some high-profile additions to the company’s leadership structure.
Tom Lee, Chairman of Bitmine, joined ORBS’ Board of Directors. Brett Winton, Chief Futurist at ARK Invest, will serve as a board advisor.
Winton backed the OpenAI thesis directly. “OpenAI is one of the most consequential bets you can make in markets today,” he said in the announcement.
The $125 million will be directed toward AI investing, blockchain infrastructure, and global digital consumer platforms.
On the crypto side, ORBS holds close to 10% of the circulating WLD (Worldcoin) supply. That makes it the largest public market holder in the Worldcoin ecosystem.
ORBS also closed a $25 million strategic investment in MrBeast and Beast Industries as part of its push into digital consumer platforms.
Stock Reaction
The stock had been up as much as 13% in regular trading and surged 28% in premarket trading Wednesday following the announcements.
ORBS stock had already been trending higher, with the broader burst of news accelerating the move.
The stock ticker ORBS is listed on the Nasdaq.
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