Nasdaq-listed Jiuzi Holdings plans $3.8M crypto purchase

Jiuzi Holdings (JZCN), a Chinese electric vehicle manufacturer listed on the Nasdaq, announced it has signed a securities purchase agreement with several institutional investors to raise $5.5 million. The company will use 70% of the proceeds, amounting to approximately $3.85 million, to purchase cryptocurrency. This follows a previous announcement by the company that it plans to purchase 1,000 BTC by May next year.