Qualigen Teams Up with BitGo for $30M Crypto Investment — Stock Jumps 62%
Qualigen Therapeutics is making a big move into cryptocurrency. The company has partnered with BitGo and is putting $30 million into a mix of top cryptocurrencies, not including stablecoins. This is a big step for the biotech company as it explores digital assets and blockchain technology.
The money will be managed through BitGo’s secure platform, which offers safe storage for cryptocurrencies and ensures all rules are followed. BitGo will also help Qualigen handle its crypto investments safely and professionally.
Jerry Wang, Co-CEO of Qualigen, said this partnership will make the company financially stronger and put it ahead in the digital world. Mike Belshe, CEO of BitGo, added that more companies are now confident about using crypto for their finances.
After the news, Qualigen’s stock (NASDAQ: QLGN) rose 62% in after-hours trading, showing that investors are excited about this new move.
Impact:
This investment might encourage other companies to explore crypto for their finances. It could also increase investor interest and create some market ups and downs.
