Well, hold onto your hats, because Flora Growth, that darling of the Nasdaq cannabis scene, has decided to throw a whopping $401 million cash-bonanza to back the much-buzzed-about project Zero Gravity (0G). Yes, you heard it right-blockchain AND cannabis? What could possibly go wrong? 🤔
In a daring deal featuring $35 million in cold, hard cash (because who doesn’t love a bit of cash?) and another $366 million in “not exactly cash” digital assets that mainly consist of the shiny 0G tokens, Flora is officially rebranding itself as ZeroStack. But don’t fret! They’re keeping their Nasdaq ticker, FLGC, proving that even in the world of corporate identities, change doesn’t always mean change. 🙄
Leading the charge for this ambitious initiative is the DeFi Development Corp. (DFDV)-the royalty of Solana-joined by dignitaries like Hexstone Capital and Carlsberg SE Asia PTE Ltd. Of course, there’s always a crowd, so Dao5, Abstract Ventures, and the ever-elusive Dispersion Capital also decided to join in on the fun. 🎉
“We’re thrilled,” said DFDV CEO, Joseph Onorati, likely while sipping a kombucha and contemplating life’s mysteries. “We look forward to driving a deep collaboration between 0G and Solana.” Meanwhile, Flora will casually stash some SOL tokens, just in case they need a rainy-day fund in crypto-land.
Zero Gravity Trains an AI Model… Because Reasons!
The investment isn’t just about throwing money around like confetti. Oh no! The grand goal is to help 0G’s AI platform scale up so it can train a 107 billion parameter model. Yes, you read that right-a model so big it makes Google’s tech seem like a child’s toy! 0G promises a staggering 357x efficiency improvement over other models. Because if you’re not scaling, are you even trying? 💪
Incoming CEO Daniel Reis-Faria shared that this generous treasury move will allow institutional investors to nab a piece of a “transparent, verifiable, and privacy-first AI infrastructure.” Because obviously, that’s what keeps investors’ pillows fluffy at night. 💤
Mark your calendars, folks, because closing time is expected by September 26-pending, of course, that pesky shareholder approval. Some lucky investors will even score pre-funded warrants for 0G tokens. Who knew investment could feel like a game of Monopoly? 🤑
Standard Chartered Sounds the Alarm-DAT Boom Goes Bust!
In a plot twist that nobody saw coming (except everyone), Standard Chartered has warned that Digital Asset Treasury (DAT) firms are staring down the barrel of a panic as market net asset values (mNAVs) come crashing down like an ill-fated first date. 💔 Once the toast of the town thanks to Bitcoin’s glory days, the DAT bubble seems to be deflating faster than my will to work out on a Monday.
Apparently, mNAVs above 1 used to let firms issue new shares and rule the crypto kingdom. But alas! Many DATs are now trading below that magic number, causing their access to low-cost capital to dry up. Looks like it’s a rough season for smaller players.
Standard Chartered expects the sector to see some serious speed dating as bigger, better-funded firms like Strategy and Bitmine swoop in to snap up the struggling little guys. Hopefully, those smaller firms have some good negotiating skills… or at least a really nice business card. 🤷♀️
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2025-09-21 10:41