Compound Founder Acquires Liquor Company to Pivot and Establish Cryptocurrency Treasury Plan Thwarted by "Poison Pill" Strategy

BlockBeats News, July 18th, according to The Block, Superstate founder and Compound founder Robert Leshner's experimental hostile takeover plan of a "low-cap" company—aimed at transforming its business into a cryptocurrency acquisition powerhouse—seems to have been partially thwarted due to a "poison pill" strategy implementation.

On July 14th, Leshner announced that he had acquired 56.9% of the company's shares through open market purchases, becoming the majority shareholder of this "low-cap and somewhat historically complex" liquor company named LQR House Inc. (stock code: YHC).

At the time, the founder of Compound and Superstate stated that he planned to replace the board of directors and "assist the company in exploring new strategies," including holding a significant amount of cryptocurrency. This move seems to be one of the increasingly common trends among publicly traded companies to establish a cryptocurrency treasury through equity and debt financing arrangements.