The latest crypto downturn is hammering companies that built their business models around holding digital assets. The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets.That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector.Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset. Read more The latest crypto downturn is hammering companies that built their business models around holding digital assets. The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets.That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector.Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset. Read more
Evernorth’s unrealized XRP losses expose mounting pressure on DATs: CryptoQuant
The latest crypto downturn is hammering companies that built their business models around holding digital assets.
The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets.
That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector.
Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset.
Read more
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