Malaysian technology consulting firm VCI Global plans to acquire $100 million worth of OOB tokens. The transaction was completed with a $50 million purchase through the issuance of restricted shares to the OOB Foundation, and an additional $50 million will be bought back through the secondary market. After the transaction, Tether will become VCI Global's largest shareholder.

PANews November 12 News, according to Cointelegraph, Malaysia-based VCI Global (Nasdaq: VCIG) announced plans to purchase $100 million worth of OOB tokens and oversee the digital treasury of Singapore-based cryptocurrency payment platform OOBIT. Additionally, Tether will become VCI Global's largest shareholder through its holdings in OOBIT. It is reported that Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital are also investors. VCI Global acquired $50 million worth of OOB tokens from the OOB Foundation by issuing company shares as payment, valuing the company at $200 million (i.e., $0.20 per token). The company plans to officially launch and then...