Enlivex Therapeutics (NASDAQ: ENLV), a microcap biopharmaceutical company focused on immunotherapy treatments, announced plans to raise $212 million through a private investment in public equity (PIPE) deal to implement a pioneering “Digital Asset Treasury” (DAT) strategy centered on the RAIN token.
The funds will be used to build a corporate treasury holding RAIN, the native token of Rain, a decentralized prediction market platform built on blockchain technology that allows users to bet on real-world events like elections or sports outcomes.
This marks one of the first instances of a publicly traded company shifting significant treasury reserves into a crypto-based prediction market asset, blending traditional biotech with Web3 finance.
The announcement triggered a massive surge in RAIN’s price, which jumped over 120% in the past 24 hours, reflecting heightened investor interest in prediction markets amid growing mainstream adoption.
Enlivex, which has a market cap under $50 million and is developing treatments for sepsis and solid tumors, emphasized that this move won’t detract from its core biotech operations but will diversify its balance sheet.
The PIPE involves institutional investors, with closing expected soon, potentially signaling a broader trend of TradFi firms exploring crypto treasuries.
San Francisco Thief Poses as Delivery Driver in $11M Crypto Heist
In a brazen home invasion, a thief disguised as a delivery worker tricked his way into a residence in San Francisco’s upscale Mission Dolores neighborhood and fled with a victim’s cellphone, laptop, and approximately $11 million worth of cryptocurrency.
The suspect, described as a Black male in his 30s wearing a hoodie and carrying a fake delivery box, rang the doorbell around 10 a.m., claiming to have a package for the homeowner.
Once inside, the intruder quickly overpowered the resident, grabbed the devices, and accessed the crypto wallets — likely using the phone or laptop to transfer the funds before escaping on foot.
The exact type of cryptocurrency stolen (e.g., Bitcoin, Ethereum) hasn’t been disclosed, but the theft highlights ongoing vulnerabilities in self-custody setups where hardware like phones and laptops hold private keys.
No arrests have been made, and the San Francisco Police Department (SFPD) is investigating, urging residents to verify delivery personnel and use multi-factor authentication for crypto assets. This incident echoes rising crypto-related burglaries in the Bay Area, where thieves target high-value holders using public data from social media or blockchain explorers.
RAIN is a decentralized prediction market platform built on blockchain primarily Berachain, an EVM-compatible Layer-1 using Proof-of-Liquidity consensus. It lets users create and trade binary outcome markets on virtually any real-world event — elections, sports, crypto prices, weather, news headlines, etc. — using crypto as collateral.
Anyone can create a market by paying a small fee in $RAIN. “Will Donald Trump win the 2028 U.S. Presidential Election?” (Yes/No outcome). The creator sets resolution source (e.g., official election results, CoinGecko price at a specific time, etc.).
When a market is created, two ERC-20 tokens are minted: YES shares. NO sharesInitially priced near 0.50 each total liquidity = $1 per share pair. Users buy YES or NO shares with USDC the main trading pair.
If you think the answer is YES, you buy YES shares. If the event happens, each YES share redeems for $1; NO shares become worthless and vice versa. RAIN uses a custom constant-function AMM similar to Polymarket’s, but optimized for Berachain.
Liquidity providers deposit USDC and earn trading fees + $RAIN token rewards. The more liquidity, the tighter the spreads and the larger the bets the market can handle. After the event ends, a decentralized oracle currently UMA’s optimistic oracle integrated on Berachain confirms the outcome.
Winning shares (YES or NO) can be redeemed 1:1 for USDC. Losing shares become worthless. Nasdaq-listed Enlivex (ENLV) is raising $212M to hold $RAIN as corporate treasury. Trading fees (0.5-1%) partially buy back & burn $RAIN or go to treasury.
Liquidity providers and top traders receive $RAIN emissions very high APRs right now to bootstrap liquidity. $RAIN holders will vote on protocol parameters, oracle security, etc. Enlivex’s $212M raise is essentially a giant bet that holding $RAIN will outperform cash or BTC on their balance sheet.
RAIN is essentially “Polymarket on steroids” for the Berachain ecosystem: same prediction-market mechanics, but with a high-emission native token that rewards participation and has attracted massive speculative interest especially after the Enlivex news.
It’s still very early launched mid-2025, highly volatile, and heavily driven by token incentives right now, but it’s one of the fastest-growing prediction market platforms in crypto as of November 2025.
