Unicoin has announced its acquisition of a 51% stake in Diamond Lake Minerals, signaling a bold move to create a new kind of cryptocurrency treasury focused on emerging altcoins. The rebranded entity, DiamondLake, will model its strategy after Bitcoin-focused corporate treasury models — but with a twist.
Strategic Shift Toward Altcoin-Based Treasuries
The deal positions DiamondLake to become one of the first publicly aligned companies to implement a diversified altcoin treasury strategy, with plans to tokenize real-world assets and make them available to retail investors.
Unicoin CEO Alex Konanykhin described the strategy as an opportunity to replicate Bitcoin’s gains through lower-cost, high-potential altcoins. He highlighted legislative developments like the recently passed GENIUS Act as signs that altcoins are entering a new phase of mainstream regulatory legitimacy.
“We believe the same results achieved with Bitcoin can be replicated at a fraction of the cost in the alt-coin segment,” said Konanykhin.
Deal Valued Over $70 Million, Closes in 20 Days
Diamond Lake shares last traded at $3.96, giving the 51% acquisition a value estimated above $70 million. The acquisition is expected to close within 20 days, pending standard regulatory and shareholder approvals.
DiamondLake CEO Brian J. Esposito called the deal “historic,” reinforcing the company’s long-term goal of integrating tokenization into public markets and increasing investor access to tokenized assets.
SEC Charges Loom Over Unicoin
Despite the ambitious plan, Unicoin faces serious legal challenges. In May, the U.S. SEC filed a lawsuit against Unicoin and three executives, including Konanykhin, for allegedly defrauding investors of over $100 million.
The SEC accuses Unicoin of inflating asset values and promising exaggerated returns, such as marketing claims of 9 million percent returns. The charges include securities fraud, misleading investors, and aggressive unregistered marketing practices.
Konanykhin has denied all allegations, calling them “blatantly false” and politically motivated. He stated the company complied with all U.S. regulations and criticized the SEC for damaging legitimate crypto innovation.
Outlook for DiamondLake and Altcoin Treasury Growth
As the acquisition proceeds, the success of DiamondLake’s altcoin treasury model will be closely watched by market analysts and crypto enthusiasts. If successful, it could pave the way for a new wave of treasury-backed crypto firms exploring the potential of tokenized real-world assets and regulated altcoin adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.