As COINOTAG News reports, citing the Financial Times, crypto prices have cooled and corporate crypto treasuries are selling portions of their token holdings to bolster sagging stock valuations, signaling a rapid unwind of the digital asset treasury playbook. MicroStrategy, led by Michael Saylor, remains the largest corporate Bitcoin holder, yet its equity has fallen roughly 50% over the last three months, pressuring peers and prompting risk teams to recalibrate liquidity and hedging frameworks amid a sector-wide price pullback.

Kaiko analysts caution that these firms face a wave of sell-offs, with price pressure likely to intensify as assets are liquidated to defend equity valuations. Adam Morgan McCarthy, Senior Research Analyst at Kaiko, warns of a vicious cycle: price declines trigger disposals, tighten liquidity, raise funding costs, and widen gaps between token values and corporate books—conditioning risk controls and investor scrutiny in the crypto space.