Crypto’s newest craze is attracting some big names—including one of Tesla’s biggest bulls. On Monday, Dan Ives , an analyst at the financial advisory firm Wedbush Securities and one of the most vocal cheerleaders behind Elon Musk’s electric car company, became chair of a small, publicly traded company that aims to load its balance sheet with cryptocurrency.

Eightco Holdings, a firm that specializes in packaging and retail inventory management, announced that it had raised $250 million through a private share offering to buy up Worldcoin, a cryptocurrency linked to the crypto project World, which itself is backed by OpenAI cofounder Sam Altman.

Ives is a widely recognized Wall Street figure, but he made his name as an analyst, not as the operator of public companies. He may appear to

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