Crypto Treasuries Face Massive Losses as Market Slides

[etfs]

The month-long crypto selloff isn’t just hurting Bitcoin and Ether — it’s crushing digital asset treasury companies that built their balance sheets on crypto.
According to CryptoQuant, Evernorth has seen $78 million in unrealized losses on its XRP position just weeks after buying in.
Meanwhile, Strategy (MSTR) is down 26% in a month, and BitMine faces $2.1 billion in Ether losses.
Analysts warn: treasury-backed crypto firms are entering dangerous territory.

[Rimon Khan]

Down cycles test conviction — only real believers stay in.

[Abdul Khan]

Paper losses today, potential dominance tomorrow. Patience is underrated.