Unicoin Plans to Acquire Majority Stake in Diamond Lake and Launch Altcoin Treasury Strategy

According to CoinDesk, Unicoin, a crypto project facing SEC charges, has announced its intention to acquire a 51% stake in Diamond Lake Minerals and restructure it as "DiamondLake." This move aims to promote a corporate treasury strategy centered around emerging altcoins, similar to MicroStrategy's Bitcoin reserve model.

The deal is valued at over $70.000 million and is expected to be completed within 20 days. Previously, the SEC accused Unicoin of illegally raising over $100.000 million by exaggerating asset values and making false claims. The Unicoin CEO has refuted the allegations and refused to settle with the SEC.