TechFlow news, December 31 — According to The Block, Prenetics Global has announced the cancellation of its Bitcoin purchase plan, shifting its full focus to the development of its consumer health brand IM8. This decision comes just three months after the company raised $48 million to build a cryptocurrency reserve. Prenetics CEO Danny Yeung stated that the board unanimously agreed that concentrating on IM8 is the best path to create sustainable shareholder value. Currently, the Nasdaq-listed company, backed by football star David Beckham, holds over $70 million in cash and cash equivalents, along with 510 Bitcoin.
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