AI Financial Acquires Block Street in Cryptocurrency Sector Move

AI Financial, a company linked to the family of US President Donald Trump, has made significant moves in the cryptocurrency sector with its recent acquisition of Block Street for $43 million.

Block Street was registered in Nevada in late October and had been pitched to multiple publicly listed firms, but turned down deals promising potential returns of over $100 million. Its CEO and largest shareholder, Matthew Morgan, emphasized that the acquisition by AI Financial was not a proprietary deal.

This acquisition marks AI Financial's entry into the cryptocurrency sector, which it previously focused on biotechnology and fintech. In August last year, the company signed an agreement with World Liberty Financial to hold $1.5 billion worth of cryptocurrency on its balance sheet in return for shares and a board seat.