Wedbush Securities’ Dan Ives is joining a new company focused on accumulating Worldcoin (WLD), the native token of the blockchain used in Open AI creator Sam Altman’s biometric identity verification startup, World.

Eightco Holdings, a tiny company that currently trades on the Nasdaq under the ticker “OCTO,” announced Monday that Ives, Wedbush’s global head of technology research, is now chairman of the board of directors. It also announced a $250 million private placement to implement a buying strategy around Worldcoin as its main treasury asset.

“As someone that’s so passionate about the AI revolution and the future of tech, I view World as really the de facto standard for authentication and identification in the future world of AI,” Ives told CNBC. “I would not be doing this initiative if it was just a cookie cutter token strategy.”

The offering is expected to close on or around Sept. 11, at which point it plans to change its ticker to “ORBS.”

Ives’ move is similar to one made by another widely-followed Wall Street forecaster, Tom Lee of Fundstrat, who in June joined the ether accumulator BitMine Immersion Technologies as chairman. BitMine shares have rocked more than 800% since Lee announced his involvement.

That company also made a $20 million strategic investment in Eightco, it announced Monday, marking the start of its “Moonshot” strategy to back bold ideas that strengthen Ethereum’s ecosystem.

Given the more crypto-friendly regulatory environment this year, more public companies have adopted the MicroStrategy playbook of using debt financing and equity sales to buy crypto to hold on their balance sheet to try to increase shareholder returns. Companies with high-profile backers like Fundstrat’s Lee and tech billionaire Peter Thiel (who has a stake in both ether-focused companies BitMine and Ethzilla) have been holding up better in the recent crypto pullback.

Ives, known for his bold street calls (and fashion choices) also runs the Dan Ives Wedbush AI Revolution ETF (IVES), which launched earlier in the summer with a focus on software and chips, and has said tech will be in a bull market for the next two to three years.

Increasingly, companies pursuing crypto treasury strategies are looking further out on the risk spectrum of crypto, beyond bitcoin, hoping for even bigger gains. For example, DeFi Development Corp launched in April with a focus on accumulating Solana’s SOL token, and a little-known Canadian vape company called CEA Industries announced a Binance Coin (BNB) accumulation plan in July.

Altman’s World venture aims to authenticate actual humans on its network given the acceleration of the number of threats from artificial intelligence, such as deepfakes. The project provides users with a “World ID” for anonymous sign-ins and rewards them with its Worldcoin cryptocurrency.

“As the AI infrastructure and [large language models] are built out without true identification and proof of human, it’s a limiting factor in the growth of AI for the coming years,” Ives said. “I view the whole crypto world going more and more toward a focus on blockchain, and how are you going to identify humans … in a future where robots are going to play a major role in physical AI?”

His comments on the need for a digital identity verification system echo those made by BlackRock CEO Larry Fink who has said in his annual letter this year that one day “tokenized funds,” or funds represented on a blockchain network like Ethereum, “will become as familiar to investors as ETFs — provided we crack one critical problem: identity verification.”

Worldcoin launched in 2023 and has a market cap of about $1 billion, compared to bitcoin’s roughly $2 trillion and ether’s $518 billion, according to CoinGecko.

Shares of advertising technology company AppLovin and stock trading app Robinhood Markets each jumped about 7% in extended trading on Friday after S&P Global said the two will join the S&P 500 index.

The changes will go into effect before the beginning of trading on Sept. 22, S&P Global announced in a statement. AppLovin will replace MarketAxess Holdings, while Robinhood will take the place of Caesars Entertainment.

In March, short-seller Fuzzy Panda Research advised the committee for the large-cap U.S. index to keep AppLovin from becoming a constituent. AppLovin shares dropped 15% in December, when the committee picked Workday to join the S&P 500. Robinhood, for its part, saw shares slip 2% in June when it was excluded from a quarterly rebalancing of the index.

The S&P 500 already has a heavy concentration of large technology companies. Datadog and DoorDash entered earlier this year.

It’s normal for stocks to go up on news of their inclusion in a major index such as the S&P 500. Fund managers need to buy shares to reflect the updates.

AppLovin and Robinhood both went public on Nasdaq in 2021.

Robinhood has been a favorite among retail investors who have bid up shares of meme stocks such as AMC Entertainment and GameStop.

AppLovin itself became a stock to watch, with shares gaining 278% in 2023 and over 700% in 2024. As of Friday’s close, the stock had gained only 51% so far in 2025. AppLovin’s software brings targeted ads to mobile apps and games.

Earlier this year, AppLovin offered to buy the U.S. TikTok business from China’s ByteDance. U.S. President Donald Trump has repeatedly extended the deadline for a sale, most recently in June.

At Robinhood’s annual general meeting in June, a shareholder asked Vlad Tenev, the company’s co-founder and CEO, if there were plans for getting into the S&P 500.

“It’s a difficult thing to plan for,” Tenev said. “I think it’s one of those things that hopefully happens.”

He said he believed the company was eligible.

Shares of MarketAxess, which specializes in fixed-income trading, have fallen 17% year to date, while shares of Caesars, which runs hotels and casinos, are down 21%.

U.S. Federal Trade Commission Commissioner Rebecca Slaughter raised questions on Friday about the status of an artificial intelligence chatbot complaint against Snap that the agency referred to the Department of Justice earlier this year.

In January, the FTC announced that it would refer a non-public complaint regarding allegations that Snap’s My AI chatbot posed potential “risks and harms” to young users and said it would refer the suit to the DOJ “in the public interest.”

“We don’t know what has happened to that complaint,” Slaughter said on CNBC’s ‘The Exchange.” “The public does not know what has happened to that complaint, and that’s the kind of thing that I think people deserve answers on.”

Snap’s My AI chatbot, which debuted in 2023, is powered by large language models from OpenAI and Google and has drawn scrutiny for problematic responses.

The DOJ did not immediately respond to a request for comment. Snap declined to comment.

Slaugther’s comments came a day after President Donald Trump held a White House dinner with several tech executives, including Google CEO Sundar Pichai, Meta CEO Mark Zuckerberg and Apple CEO Tim Cook.

“The president is hosting Big Tech CEOs in the White House even as we’re reading about truly horrifying reports of chatbots engaging with small children,” she said.

Trump has been attempting to remove Slaughter from her FTC position, but earlier this week, U.S. appeals court allowed her to maintain her role.

On Thursday, the president asked the Supreme Court to allow him to fire her from the post.

FTC Chair Andrew Ferguson, who was selected by Trump to lead the commission, publicly opposed the complaint against Snap in January, prior to succeeding Lina Khan at the helm.

At the time, he said he would “release a more detailed statement about this affront to the Constitution and the rule of law” if the DOJ were to eventually file a complaint.

WATCH: FTC Commissioner Rebecca Slaughter on President Trump’s latest attempt to fire her.