Jiuzi Holdings plans $1B private placement to expand crypto business

Jiuzi Holdings (JZCN), a Chinese electric vehicle manufacturer listed on the U.S. Nasdaq, announced it will sign a Memorandum of Understanding (MOU) with institutional investors to expand a private placement to as much as $1 billion. This represents a significant increase from the $12 million placement announced in October. Jiuzi plans to use the funds for its cryptocurrency business.