Dan Ives Set To Join OCTO As Chairman, Company Raises $250M For Worldcoin Treasury Bet

Eightco Holdings (OCTO) announced on Monday that Dan Ives, the global technology lead at Wedbush Securities, will be joining its board as chairman. 

"I am so excited to be named Chairman of Eightco Holdings Inc., marking the next step in the AI revolution around authentication and Proof of Human (PoH)," he said. The announcement comes alongside plans to raise $250 million through a private placement to launch what it called the world’s first Worldcoin (WLD) treasury strategy. It also received an additional $20 million from BitMine (BMNR).

OCTO’s stock soared as much as 1,000% in pre-market trading. If pre-market gains hold, this would be the stock's biggest one-day gain on record, according to Koyfin data. The shares closed at $1.45 on Friday and are currently trading at around $15.12. Retail sentiment on Stocktwits surged to ‘extremely bullish’ from ‘neutral’ a day ago, with chatter rising to ‘extremely high’ from ‘low’ levels.

Meanwhile, Tom Lee-backed BMNR’s stock edged 0.8% higher in pre-market trade. The company is the largest corporate holder of Ethereum (ETH). Retail sentiment around the shares continued to trend in ‘bearish’ territory. “BitMine wants to support and back innovative projects that create value for the Ethereum network. As an ERC-20 native token, World is aligned with Ethereum," said Lee, Chairman of BitMine.

Eightco plans to use the proceeds to acquire WLD as its primary reserve asset. Worldcoin, co-founded by OpenAI creator Sam Altman and Alex Blania, creates a decentralized digital identity by scanning a person’s irises with a device called the Orb. The ID serves as “proof of personhood” to help distinguish humans from bots online. The offering is expected to close on September 11, pending Nasdaq approval, at which time Eightco also plans to change its ticker symbol to ‘ORBS’. 

WLD’s price also gained in early morning trade, rising nearly 20% in the last 24 hours. On Stocktwits, retail sentiment around the token trended in ‘extremely bullish’ territory, up from ‘neutral’ a day ago. Message volume also rose to ‘extremely high’ from ‘low’. 

Read also: Nutrien To Sell 50% Equity Position In Profertil For $600M

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