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Unicoin plans to acquire a majority stake in Diamond Lake and launch an alts treasury strategy.
PANews June 23 news, according to CoinDesk, the crypto project Unicoin, which is facing SEC accusations, announced the acquisition of a 51% stake in Diamond Lake Minerals and will restructure it as “DiamondLake,” promoting a corporate treasury strategy centered around emerging alts, akin to the Bitcoin reserve model of Strategy. The transaction is valued at over $70 million and is expected to be completed within 20 days. Previously, the SEC accused Unicoin of illegally raising over $100 million through exaggerated asset values and false advertising. Unicoin’s CEO refuted the allegations and refused to settle with the SEC.