Nasdaq-Listed Zhibao Technology to Receive 3,500 Bitcoin in PIPE Financing

According to Zhibao Technology, the Nasdaq-listed insurance-technology firm announced Wednesday it signed a non-binding term sheet for a private investment in public equity (PIPE) financing where it would receive approximately 3,500 Bitcoin as payment, worth near $220 million at current prices. The buyer, Joyertech and Information OPC, would subscribe for Zhibao shares with bitcoin as consideration.

Under the proposed structure, the new buyer would name a majority of the board at closing, gaining control while the current team operates the existing insurance business. The deal remains subject to final valuation, regulatory review, and definitive agreements. Zhibao's stock jumped approximately 24% following the announcement.