China’s Addentax Plans $800M Crypto Buy With 8,000 BTC

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Hassan Shittu

Journalist

Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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Last updated: 

May 14, 2025

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Addentax Group, a China-based logistics and garment firm, revealed plans to acquire up to $800 million worth of cryptocurrencies, including 8,000 Bitcoin and unspecified amounts of other tokens such as the Trump-themed memecoin TRUMP, in an announcement on May 15.

The company intends to complete the deal by issuing common stock to a group of major crypto holders. However, no definitive agreement has been reached so far.

China-based Addentax Eyes $800M Crypto Deal, A Strategic Pivot or Political Signal?

In its announcement, Addentax said it has been in discussions with several “substantial and influential” crypto holders.

While it did not disclose how much of the $800 million would be allocated to Bitcoin or other assets, it confirmed that the group it’s negotiating with claims to collectively hold approximately 8,000 BTC.

The initiative is part of Addentax’s broader plan to strengthen its balance sheet by acquiring liquid and widely recognized digital assets. It also seeks to bring influential crypto figures into its shareholder base.

Hong Zhida, CEO of Addentax, said, “This initiative supports the Company’s broader blockchain strategy by facilitating potential acquisitions of digital assets such as Bitcoin and introducing strategic investors with experience in the crypto ecosystem.”

“We believe that certain established digital assets may serve as a stable component of the Company’s long-term holdings, given their liquidity and increasing institutional interest over recent years,” he added.

Despite the ambitious announcement, Addentax shares dropped more than 8% after the news. The market reaction suggests investors remain skeptical about the firm’s pivot toward digital assets.

The company’s press release framed the move as a long-term strategic investment. However, there is speculation that the timing may also reflect political motives.

Addentax operates in the cross-border textile logistics sector, a space heavily impacted by U.S.-China trade tensions and tariffs introduced during Donald Trump’s presidency.

Two weeks ago, another logistics company reportedly purchased $20 million worth of TRUMP tokens, betting on potential political alignment.

That purchase has fueled rumors about Chinese firms exploring ways to hedge regulatory risks or secure indirect influence in a volatile geopolitical ecosystem.

While Addentax’s crypto play is still in negotiation, it indicates a growing trend of traditional firms eyeing digital assets not just for returns, but also for the strategic networks they may unlock.

Crypto Market Rallies as US-China Ease Trade Tensions

The crypto market extended its rally on Monday following a breakthrough in U.S.-China trade relations. Both nations announced a temporary reduction in tariffs, hinting at a possible thaw in their long-standing economic tensions.

The agreement, delivered via a joint statement in Geneva, outlines a 90-day negotiation window and includes substantial tariff cuts.

U.S. rates on Chinese goods will fall from 145% to 30%, while China will lower duties on U.S. imports from 125% to 10%.

The announcement sent digital assets climbing across the board, with Bitcoin jumping by 1.62% on the day to $105,322, and has now rebounded 36% from its April low of $74,500.

Ethereum also rose 3.13% to $2,560, with Dogecoin leading altcoins, up 6.29%.

Adding to the market’s bullish momentum, Donald Trump is hosting a private dinner on May 22 at his Washington, D.C. golf club for the top 220 holders of the $TRUMP meme coin. The invitation-only event will feature a speech on crypto’s future.

According to CoinGecko, the token surged 3.9% over the week to $12.86, though trading volume fell nearly 28% in the past 24 hours.

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