Interactive Strength to launch AI-driven crypto treasury with $500 million Fetch.ai token acquisition
Interactive Strength (TRNR), a Nasdaq-listed fitness technology firm, is entering the digital asset space by launching what it describes as the first artificial intelligence-driven crypto treasury.
The company plans to acquire $500 million worth of Fetch.ai’s FET tokens, according to a June 11 announcement.
TRNR has started building its token position, backed by an initial $55 million investment from ATW Partners and crypto market maker DWF Labs.
Fetch.ai CEO Humayun Sheikh said the company is executing these tokens’ purchases on the open market and not through an over-the-counter (OTC) deal. He also clarified that the Fetch.ai Foundation has no role in the buying process.
TRNR is working with BitGo to handle the trading and custody of…
