Share this article
$1.5B BTC Treasury Company Coming as Asset Entities Approves Merger With Vivek Ramaswamy's Strive
The combined company will be the latest in a fast-growing string of publicly traded crypto treasury firms.
Sep 10, 2025, 2:48 p.m.
What to know:
- Shareholders of Asset Entities (ASST) approved a merger with Strive Enterprises, which was co-founded by Vivek Ramaswamy.
- The merger is expected to close with $750 million in PIPE financing and potentially another $750 million in PIPE warrant exercises.
- ASST shares were higher by nearly 40% in U.S. morning trade.
Asset Entities Inc (ASST) announced that its shareholders have approved a merger with Strive Enterprises. Following Strive’s shareholder approval on Sept.4, this paves the way for the combined company, to be renamed Strive Inc., to pursue a bitcoin treasury strategy.
Former presidential candidate Vivek Ramaswamy co-founded Strive Enterprises in 2022.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Matt Cole — currently the head of Strive Asset Management — will lead the combined company as chairman and CEO, while Asset Entities’ President and CEO Arshia Sarkhani will transition to chief marketing officer and board member. The merger’s closing remains subject to Nasdaq listing clearance and other customary conditions, according to the announcement.
Strive expects to finalize a $750 million private placement (PIPE) financing upon closing, with potential gross proceeds exceeding $1.5 billion if warrants are exercised. Cole highlighted the company’s debt-free structure and strategy to maximize bitcoin per share through disciplined, long-term approaches designed to outperform Bitcoin itself.
ASST shares are higher by 38% in U.S. mid-morning trade.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
