Microcap Biotech Firm Raises $212M for Prediction Market Token Treasury Strategy

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Microcap Biotech Firm Raises $212M for Prediction Market Token Treasury Strategy Enlivex Therapeutics is raising $212 million to invest in RAIN, the token of a blockchain-based prediction market, which will become its main treasury reserve asset. By Francisco Rodrigues , AI Boost | Edited by Sheldon Reback Nov 24, 2025, 1:00 p.m. (CoinDesk) What to know : Enlivex Therapeutics is raising $212 million to invest in RAIN, the token of a blockchain-based prediction market, which will become its main treasury reserve asset. The token powers a decentralized protocol for creating and trading prediction markets on real-world events. The investment won't affect Enlivex's clinical trials for its lead drug candidate, Allocetra, and will also bring Italy's former prime minister, Matteo Renzi, to its board of directors. Enlivex Therapeutics (ENLV), an Israel-based clinical-stage biotech firm, said it’s raising $212 million in a private placement to become the first publicly traded U.S. company to adopt a blockchain-based prediction markets token as its main treasury reserve asset. The token, RAIN, powers a decentralized protocol built on the Arbitrum blockchain that allows users to create and trade predictions markets on real-world events using smart contracts. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . As with other prediction markets, like Polymarket, traders on Rain can bet on topics ranging from elections to sports, with outcomes settled via oracles or AI-based tools. The platform also includes a deflationary “buyback and burn” mechanism aimed at curbing supply of the RAIN token. Enlivex, which has a $22 million market cap on Nasdaq, plans to buy RAIN tokens with the majority of the funds raised and will use the asset as its core treasury holding. The firm said it sees the growing prediction markets space as a strategic growth area, citing recent investments in competitors like Polymarket and Kalshi by major institutions including the New York Stock Exchange’s parent company and Andreessen Horowitz. At the same time, Enlivex will continue clinical trials for its lead drug candidate, Allocetra, a macrophage therapy for osteoarthritis, according to a press release shared with CoinDesk. The disease affects more than 30 million Americans and lacks treatments that halt joint damage, a gap Allocetra aims to address. Matteo Renzi, Italy’s former prime minister, is expected to join Enlivex’s board following the deal’s close, set for Nov. 25. Last year, the company’s board of directors added bitcoin BTC $ 86,007.24 to its cash-management strategy, approving the purchase of up to $1 million in the cryptocurrency. It’s unclear how much, if any, BTC the company currently holds. The transaction, priced at $1 per share, represents an 11.5% premium over Enlivex’s last trading price. Prediction Markets Digital Asset Treasury AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . Plus pour vous Protocol Research: GoPlus Security Par CoinDesk Research 14 nov. 2025 Commissioned by GoPlus Ce qu'il : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. View Full Report More For You Revolut Hits $75B Valuation in Fundraise Backed by Coatue, NVIDIA, Fidelity By Francisco Rodrigues , AI Boost | Edited by Oliver Knight 1 hour ago Revolut is growing its crypto offerings, including a recent partnership with Polygon Labs and a MiCA license to offer crypto services across Europe. What to know : Revolut has secured a $75 billion valuation in a secondary share sale led by major investment firms including NVIDIA's investment arm NVentures. The deal follows strong financial results, with $4 billion in revenue and $1.4 billion in pre-tax profit for 2024, and global expansion. Revolut is growing its crypto offerings, including a recent partnership with Polygon Labs and a new Markets in Crypto Assets (MiCA) license to offer crypto services across Europe. Read full story Latest Crypto News Where Next?: Crypto Daybook Americas 45 minutes ago Revolut Hits $75B Valuation in Fundraise Backed by Coatue, NVIDIA, Fidelity 1 hour ago Crypto Markets Today: Fear Dominates as Altcoins Lag, Bitcoin Tests Key Levels 1 hour ago Bitcoin Longs on Bitfinex Jump 40% in Three Months as Traders Double Down on Dip 1 hour ago ECB Doubles Down on Warning That Stablecoins Could Pose Global Financial Risks 1 hour ago China Returns as Third Largest Bitcoin Mining Hub With a 14% Share: Reuters 2 hours ago Top Stories Bitcoin ETFs, Led by BlackRock's IBIT, See Record $40B Trading Volume as Institutions Capitulate 7 hours ago Where Next?: Crypto Daybook Americas 45 minutes ago Thai Crypto Exchange Bitkub Weighs Hong Kong IPO: Report 4 hours ago DOGE Beats the Blue Chips as D.O.G.E Calls It Quits 7 hours ago China Returns as Third Largest Bitcoin Mining Hub With a 14% Share: Reuters 2 hours ago Turning ‘$11K to Half a Billion Dollars From Trading Memecoins’: Tales From a Crypto Wealth Manager Nov 22, 2025