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Cosmos Health Launches $300 Million Ethereum Treasury After SEC Clears Liquid Staking

Having closed its $300 million financing deal, Cosmos Health is moving more than 70% of capital into Ethereum reserves under BitGo custody for staking.

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Overview

  • Cosmos Health completed a $300 million senior secured convertible note financing to build an Ethereum-based treasury reserve.
  • The financing stipulates that at least 72.5% of each funding tranche be allocated to Ethereum purchases and staking.
  • BitGo Trust Company will oversee custody and manage liquid staking to generate yield on the company’s Ethereum holdings.
  • Curvature Securities, LLC served as the sole placement agent for the convertible note facility.
  • The SEC’s Division of Corporation Finance ruled that liquid staking does not involve the offer or sale of securities, fueling $73.2 million in U.S. spot Ethereum ETF inflows this week.