PANews reported on February 4 that, according to Cointelegraph, insurance brokerage firm Tianruixiang (NASDAQ: TIRX) announced a strategic agreement under which an unnamed investor will contribute 15,000 bitcoins (worth approximately $1.1 billion) in exchange for a stake in the company.

Tianruixiang stated that the agreement also includes a strategic collaboration focused on artificial intelligence and cryptocurrency, including the establishment of a joint innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications, and products covering Layer 2 networks, DeFi, and NFTs. The company only described the counterparty as a global digital asset investor with extensive experience in the cryptocurrency and technology markets, without disclosing the transaction time, custody arrangements, or settlement mechanisms.