Dan Ives to become chair of company that will buy Sam Altman-backed Worldcoin for its treasury

Dan Ives, the global head of technology research at Wedbush Securities, is set to become the chairman of Eightco Holdings, a Nasdaq-listed company focused on acquiring Worldcoin (WLD), a digital currency linked to Sam Altman's biometric identity verification startup. In a strategic move announced on Monday, Eightco revealed a $250 million private placement aimed at establishing Worldcoin as its primary treasury asset. Ives expressed his enthusiasm for the initiative, stating, "As someone who's deeply passionate about the AI revolution and the future of technology, I see World as the de facto standard for authentication and identification in the future world of AI." The funding round is anticipated to conclude around September 11, after which Eightco plans to rebrand itself with a new ticker symbol, "ORBS." Ives' appointment mirrors a recent trend among prominent Wall Street analysts, including Tom Lee of Fundstrat, who joined BitMine Immersion Technologies as chairman earlier this year. Since Lee's announcement, BitMine's shares surged over 800%, illustrating the potential for significant gains in the crypto sector. With increasing interest in cryptocurrency treasury strategies, many public companies are embracing a model similar to MicroStrategy's, utilizing debt and equity sales to acquire crypto assets in hopes of enhancing shareholder returns. High-profile figures like Ives and tech investor Peter Thiel, who has stakes in both BitMine and Ethzilla, have positioned themselves favorably in this evolving landscape. Ives also manages the Dan Ives Wedbush AI Revolution ETF (IVES), launched earlier this summer, which concentrates on software and semiconductor investments. He anticipates a sustained bull market for technology over the next two to three years. The crypto market is witnessing a broader exploration beyond Bitcoin, with companies like DeFi Development Corp focusing on Solana's SOL token and CEA Industries pursuing Binance Coin (BNB). Worldcoin aims to provide users with a unique "World ID" that facilitates anonymous sign-ins while rewarding them with its cryptocurrency. Ives emphasized the necessity of a reliable digital identity verification system, highlighting the challenges posed by the rise of AI threats, such as deepfakes. Reflecting on the future of AI and the importance of human identification, Ives stated, "As the AI infrastructure expands without true identification, it's a limiting factor for growth in AI for years to come." This sentiment aligns with remarks from BlackRock CEO Larry Fink, who noted that overcoming identity verification issues will be crucial for the success of tokenized funds in the investment landscape. Since its launch in 2023, Worldcoin has garnered a market capitalization of approximately $1 billion, significantly smaller than Bitcoin's $2 trillion and Ethereum's $518 billion, according to CoinGecko.