Morning Edition · Thursday, July 23, 2026Published at 1:28 AM EDT · New York
Nasdaq-Listed Zhibao Plans to Take 3,500 Bitcoin in $220 Million Financing as Tesla Books Impairment
The Chinese insurance-tech firm would become the latest corporate Bitcoin treasury even as Tesla's held position produced a $112 million impairment on a 14% quarterly price decline.
Zhibao Technology, a Nasdaq-listed Chinese insurance-technology firm, plans to accept 3,500 Bitcoin in a proposed $220 million private-placement financing, a deal that would convert the company into the latest public corporate Bitcoin treas…
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Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
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