Zhibao Technology, the Nasdaq-listed Chinese insurance brokerage, plans a share sale worth about $220 million funded in Bitcoin, a structure that could hand the buyer a majority of Zhibao’s board seats. The transaction is a planned financing rather than a completed deal. Zhibao said it signed a non-binding term sheet to receive approximately 3,500 Bitcoins as consideration for a PIPE financing, according to the company’s announcement. The consideration is denominated in Bitcoin rather than cash, which is what sets the arrangement apart from a routine equity raise. For related coverage, see BitMEX to Shut Down on September 23, 2026: What Users Need to Know.