Unicoin plans to acquire a majority stake in Diamond Lake and initiate an alts reserve strategy.

According to ChainCatcher news and CoinDesk reports, the cryptocurrency company Unicoin announced that it will acquire a 51% stake in the digital asset company Diamond Lake Minerals and plans to rename it to DiamondLake, focusing on building an alts asset library, with a strategy similar to MicroStrategy's Bitcoin accumulation model. The deal is valued at over $70 million and is expected to be completed within 20 days. The move comes as Unicoin and its executives are being sued by the US SEC for alleged securities fraud, accused of misleading investors and illegally raising over $100 million. The new entity will focus on Crypto Assets at its core, reshaping its funding strategy with an emphasis on emerging altcoin markets.