According to CoinMeta, Zhibao Technology completed a financing round of $154.7 million PIPE. Investors paid in full with 2,380 bitcoins. This financing round issued 442 million PIPE units at a price of $0.35 per unit, with each unit comprising one class A ordinary share and one two-year warrant. 395.6 million units were delivered at the time of settlement, and the remaining 46.32 million units will be delivered upon shareholder approval. Chairman Ma Botao stated that the financing will strengthen the financial foundation, accelerate the expansion of AI capabilities, and leverage investors' experience in the crypto market and Web3 infrastructure to explore business synergies.