Crypto Treasury Stocks in Chaos: The Wild Ride You Didn’t Sign Up For 😱

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So, apparently, Monday in the crypto world was a little bit like a rollercoaster, but without the fun part. Crypto stocks took a tumble in the US as investors flinched at the latest treasury buys, though not all was doom and gloom. There were a few crypto pivots and acquisitions that managed to save the day. You know, just when you thought things couldn’t get worse… they kind of did. 😂

Stocks linked to the crypto sector were in freefall early on Monday across both US and Canadian markets, thanks to Bitcoin (BTC) sinking below $113,000-its first drop in nearly two weeks. All that hype around the Federal Reserve’s rate cut? Yeah, it’s officially gone. 💸

Crypto treasury companies, those big players who buy and hoard crypto, were mostly responsible for the day’s losses. Just imagine, holding onto something that loses value faster than your New Year’s resolutions. Ouch. 😬

Crypto Treasuries Lead the Losers’ Parade

Helius Medical Technologies (HSDT), known for, well, medical devices (and apparently Solana buys?), led the charge in price drops, plummeting a whopping 33.6% after announcing their first Solana (SOL) buy. Whoops. It did manage a tiny lift after hours (8.6%, to be precise), so there’s that. 🙄

The company dropped $175.6 million buying 760,190 SOL at $231 per pop. Meanwhile, Solana was busy falling 7% to $218. Ouch, again. Helius’ Solana stash? Now valued at less than $166 million. So… great investment, huh? 🥴

Then there’s the Changpeng Zhao-backed vape company (yes, you read that right) turned BNB (BNB) treasury, CEA Industries (BNC). They announced a $500 million share deal on Sunday. And guess what? Shares plummeted 19.5%. Of course. 😑

Tom Lee’s BitMine Immersion Technologies (BMNR) didn’t fare much better, with a 10% drop after announcing a massive $1.1 billion buy of Ether (ETH). Strategy Inc. (MSTR), another Bitcoin-buying titan, also finished the day down by 2.5% after splurging $99.7 million on BTC. Seems like everyone’s just losing money now. 🤑

Crypto Pivots Turn the Tables-Sort of

But wait! There’s hope yet! (Or at least, it seems like hope for now…) Some companies pivoted hard and actually saw gains. AgriFORCE Growing Systems (AGRI), which sells farming tech (because why not?), saw a jaw-dropping 138% surge after announcing its plan to rebrand as AVAX One. They’re going all in on Avalanche (AVAX) with plans to raise $550 million. Talk about a plot twist. 🌾💥

Similarly, Qualigen Therapeutics (QLGN), which normally develops cancer treatments (yes, really), jumped nearly 95% after announcing they were diving headfirst into the crypto world with a $41 million investment from EV startup Faraday Future. Sounds like someone’s trying to stay relevant, huh? 🤔

Bakkt and Semler: The Unexpected Winners

And then there are the underdogs! Bakkt Holdings (BKKT), the crypto custody and trading firm, skyrocketed over 40% after they appointed crypto entrepreneur Mike Alfred to their board. Because who doesn’t want a crypto guru on their team? 💼

Semler Scientific (SMLR), which turned into a Bitcoin treasury company (sure, why not), also managed to rise over 9.8% after announcing Strive Inc. (ASST) would acquire them. Strive Inc., by the way, saw a 4.6% plunge. Oh, the sweet irony. 🍀

To wrap up this crazy day in crypto, HashKey Capital CEO Deng Chao had some wise words: only treasury companies with long-term strategies will survive this madness. The message? Stop chasing quick gains and start building something that lasts. In other words, don’t buy Solana today, sell it tomorrow. It might not end well. 😜

“Digital assets aren’t inherently unsustainable; it’s the way they’re managed that makes the difference,” Chao said. And, if we’re being honest, that’s probably the best advice anyone’s heard in 2025. 🙌

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2025-09-23 06:52