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The latest crypto downturn is hammering companies that built their business models around holding digital assets.<\/p>\n
The month-long slide in crypto prices hasn\u2019t just hit major assets like Bitcoin (BTC<\/a>) and Ether (ETH<\/a>) \u2014 it\u2019s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets.<\/p>\n That\u2019s one of the key takeaways from a recent social media<\/a> analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector.<\/p>\n Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset.\u00a0<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n