A TikTok livestreaming company just got board approval to dump 7,500 bitcoin to fund a $100 million share buyback.

The company is GD Culture, they bought the bitcoin for $841 million last September.
They didn’t use cash, instead diluted their own shareholders by issuing 39 million new shares to acquire a BVI shell company that happened to be holding the BTC.
Their treasury strategy also included buying $TRUMP.
5 months later the BTC is worth $500 million. They’re sitting on $340 million in unrealized losses, the stock is down 70%.
Their entire market cap is $210 million, less than half of what the BTC on their balance sheet is worth.
Nasdaq already flagged them for failing to meet minimum listing requirements.
Now they’re dumping it.
Selling half a billion in BTC into the thinnest liquidity since 2022 to prop up a stock that’s down 70%.
This is what a real shakeout looks like.