Jiuzi Holdings, an electric vehicle charging firm, announced a plan to invest up to $1 billion in crypto assets, focusing on Bitcoin, Ethereum, and BNB. This announcement led to a 47% surge in the company's stock price, which later fell nearly 10% within the same trading day. Despite the ambitious investment strategy, Jiuzi Holdings reported less than $1 million in cash and cash equivalents as of last year, raising questions about its funding for the planned investments. The company's CEO stated the initiative aims to enhance shareholder value while adhering to a strict risk framework. No short-term trading will take place, and the firm has established a crypto risk asset committee. The announcement highlights the uncertain financial foundation of Jiuzi Holdings, given its net loss of about $55 million last year, and the absence of clear strategies for raising the funds for such a substantial investment in crypto assets.

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