Bitzumi, Inc., a Newport Beach, Calif.-based company developing solutions in the cryptocurrency and blockchain industries, received an initial $1m equity investment.
Acacia Research Corporation (NASDAQ: ACTG) made the investment.
Co-founded by James Altucher and Scot Cohen, Bitzumi is a digital content and asset platform that plans to enable users to transact in the cryptocurrency and blockchain marketplace. Bitzumi’s model is to develop a next generation decentralized exchange while simultaneously developing and acquiring the largest network of crypto and blockchain related digital properties.
Bitzumi recently filed a Regulation A Offering Statement with the Securities and Exchange Commission and a listing application with NASDAQ.