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**Thumzup Media Ties the Knot with Coinbase to Expand XRP Holdings and Cryptocurrency Assets**
In a move aimed at bolstering its digital asset strategy, Thumzup Media has announced a partnership with Coinbase Prime to grow its XRP reserves. The collaboration will enable the company to scale up its mining operations for multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), and Ripple’s XRP.
The funds raised through a secondary public offering, amounting to $50 million, will be invested in acquiring advanced mining equipment. This strategic move is expected to increase the company’s exposure to various digital assets, allowing it to capitalize on market fluctuations. CEO Robert Steele emphasized that Coinbase Prime’s infrastructure will enable Thumzup Media to accumulate and manage its cryptocurrency portfolio efficiently and securely.
As part of this partnership, Thumzup Media aims to expand its treasury by increasing its XRP holdings, as well as allocating funds to other major digital assets such as USDC and DOGE. The company has also secured a Bitcoin-backed credit facility with Coinbase Prime to support its digital asset growth initiatives. This move positions Thumzup Media among publicly listed firms expanding their crypto reserves for long-term growth.
It is worth noting that this collaboration comes at a time when the cryptocurrency market is witnessing an uptick in interest, fueled by rumors of potential Fed rate cuts and ongoing adoption in various sectors. With its new partnership, Thumzup Media has positioned itself as one of the leaders in corporate crypto growth, following a trend where publicly listed firms are expanding their crypto reserves.
In related news, Trump Jr.’s Thumzup Media has secured $50 million to grow its cryptocurrency mining operations and expand its treasury.
Source: coincentral.com
