The bitcoin miner issued a $10 million convertible note and closed a $65 million insider-led round while racing to regain compliance with exchange rules.
Investors looking to bet on tokenization should think in phases, with institution-friendly networks like Canton likely winning first and Avalanche, Ethereum capturing more upside later, Grayscale's Zach Pandl said.
The contracts are regulated by Brazil's securities regulator and designed for professional investors with at least 10 million reais ($1.9 million) in assets.