cryptocurrency company Unicoin announced the acquisition of 51% of the shares of digital asset company Diamond Lake Minerals, and plans to rename it DiamondLake, focusing on building a portfolio of altcoins, similar to MicroStrategy's bitcoin accumulation model.This move comes as Unicoin and its executives are being sued by the U.S. SEC for alleged securities fraud, accusing them of misleading investors and illegally raising over $100 million. The new entity will focus on cryptocurrency assets, reshaping its financial strategy, and shifting its focus to the emerging altcoin market.
