On June 11th, it was reported that Interactive Strength (TRNR), a fitness equipment manufacturer listed on Nasdaq, announced that it plans to raise up to 500 million US dollars through a securities subscription agreement to purchase FET crypto tokens for the Fetch.ai platform. To launch its AI-centered crypto Treasury strategy.
Currently, Interactive Strength has begun the acquisition with the first batch of $55 million provided by ATW Partners and DWF Labs. As part of the agreement, Fetch AI will collaborate with Interactive Strength to integrate its autonomous AI agents into TRNR’s digital fitness ecosystem, providing personalized, AI-driven coaching solutions.
In addition, Interactive Strength has chosen Bitgo, a top digital asset custodian, to handle the custody and trading of its FET tokens, adding an institutional-level layer of security to its crypto Treasury assets.
The chief operating officer of Fetch.ai said that Interactive Strength’s crypto Treasury program validates their vision for the tokenized AI economy. Trent Ward, the CEO of Interactive Strength, emphasized that this strategy aims to unlock long-term value for shareholders while leveraging the huge potential of artificial intelligence in the fitness industry.
This collaboration will enable Interactive Strength to become the first publicly traded U.S. company to establish a large digital asset reserve aimed at artificial intelligence, highlighting how traditional companies can utilize crypto treasuries to gain technological advantages rather than for speculative trading.
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