Former Italian Prime Minister Matteo Renzi will join the Enlivex board to support its policy efforts in establishing the first corporate treasury holding a prediction market token. A Nasdaq-listed biotech firm is raising $212 million in a late-cycle pivot into crypto, planning to buy the token of a decentralized prediction market even as other digital-asset treasuries (DATs) struggle to stay afloat. Enlivex Therapeutics (ENLV), a clinical-stage macrophage reprogramming immunotherapy company, said on Monday it plans to raise $212 million through private investment in public equity, selling 212 million shares at $1 each. The price represents an 11.5% discount to Friday’s close, according to the company’s filing with the US Securities and Exchange Commission. The company plans to invest the majority of the $212 million in Rain (RAIN), the utility token behind the Rain decentralized prediction market on the Arbitrum network, marking the first corporate strategy centered on a prediction market token, according to ...
The raise values Rain at $1.95 billion after 30-fold card growth in 2025, with the Visa-linked platform planning expansion across multiple continents. Rain, a US stablecoin infrastructure provider and a principal member of the Visa payments network, has secured major funding to expand its global presence. The platform raised $250 million in a Series C funding round led by the global investment firm Iconiq, according to an announcement on Friday. The round values Rain at $1.95 billion, bringing the company’s total funding to $338 million, following a $58 million Series B round in August 2025 and another $24.5 million raise in March last year. Read more