The Vancouver crypto firm, which trades on the Canadian Stock Exchange, plans to use more than 90 per cent of the money to buy the native token of the Ethereum blockchain. It will spend the remainder on technology, infrastructure and corporate development to expand globally. (The Logic)

Talking point: The financing is yet another example of the digital asset treasury trend, in which a small public company gets a big injection of capital to buy and hold crypto on its balance sheet. For a time, the tactic led to massive stock price gains at a premium to their crypto assets for many of the firms that jumped on the bandwagon, but evidence is mounting that the trend is running out of steam. Republic said in a release that it believes the financing’s low interest rate and the firm’s existing business operating infrastructure for Ethereum will make it an exception. Republic was a face mask manufacturer with a wastewater treatment subsidiary before pivoting to Ethereum in July.