Latest news with #cryptotreasury
Yahoo
25-07-2025
- Business
- Yahoo
Robert Leshner takes investors on ‘crazy ride' that ends with a new crypto treasury company and heavy losses
When Robert Leshner announced on Monday he had bought a controlling stake in a tiny liquor advertising company, nobody knew what he was up to. The decentralised finance guru, who has 129,000 followers on X, said he planned to replace the firm's board and help it 'explore new strategies.' But doing so turned out to be easier said than done. What followed was a four-day foray into the wild world of corporate takeovers that saw a 266% stock surge, an even more violent crash, and the decimation of thousands of dollars of investor capital. On Thursday, Leshner returned to social media for a post-mortem. He said his plan all along had been to buy the company and put it on track to build a crypto treasury, an increasingly popular scheme pioneered by Michael Saylor's Bitcoin treasury company Strategy, and aped by dozens more firms in recent months. 'I was partially successful,' Leshner said. Leshner did not immediately respond to a request for comment. A majority stake The episode began on July 14 when Leshner posted a Securities and Exchange Commission filing on X. It disclosed that he had bought 56.9% of the stock of LQR House, a Florida company with a $2.8 million market capitalisation that sells wine and other alcoholic drinks through a website. 'I have not done extensive diligence; there are signs the company is up to no good,' Leshner said on X. 'I will sort them out, but please be extremely careful with any low market cap companies. I may lose all my investment and you might too.' The warning was a sign of things to come. The way Leshner went about acquiring his majority stake in LQR House was unusual, said Matt Levine, an opinion columnist at Bloomberg News, who weighed in on the situation on Wednesday. Activist investors tend to engage with company management after buying a stake in the open market. Yet it appears Leshner plunged ahead with his plan without talking to LQR House's executive team or board. So he had no idea how they might react to his aggressive stock buying move. Still, Leshner's followers on X saw the situation as an opportunity. Leshner is a veritable hero in DeFi circles. He created Compound, an early DeFi lending protocol that at one point held more than $20 billion in user deposits. And crypto treasury companies are all the rage and have in recent months produced handsome returns for those who bet on them early. Despite Leshner's warnings, his followers piled into LQR House's stock, which trades under the ticker YHC. Within two days, its shares soared 266%. Burnt investors Even so, the firm's management didn't like what was going on. They seized the opportunity to issue more shares and profit from the situation. It wasn't just a small number of new shares, either. The firm filed to issue $46 million worth — over nine times the market capitalisation of the company at the time. The offering diluted Leshner's stake and simultaneously the firm's stock plunged 46% as shares flooded the market. 'The numbers reported in brokerage apps became increasingly out of date as these shares entered the market and diluted shareholders, to the point where my stake no longer has meaningful control,' Leshner said in the aftermath. 'Not productive' Flooding the market with new shares is typically regarded as poor corporate governance and bad for investors. Leshner rather diplomatically characterised LQR House's decision as 'not productive.' LQR House's CEO is Sean Dollinger, a self-styled serial entrepreneur who has been involved in the initial purchase offerings of numerous firms. In an October 2024 civil suit, Dollinger and his companies, including LQR house, were accused of racketeering by investors, who demanded almost $2 million in restitution. Dollinger and his co-defendants' request to dismiss the suit was denied on June 30. To add to the madness, an activist investor unconnected to Leshner, Kingbird Ventures, sued LQR House on July 15, citing a breach of fiduciary duties. Kingbird's suit seeks to take control of the firm and freeze assets held by Dollinger. As more and more new shares of LQR House hit the market, the stock fell further. By Friday morning, shares had tumbled another 18%, below the level where they were trading when Leshner announced his controlling stake. 'Silver lining' Yet in a sudden turn of events, Leshner's dream of turning LQR House into a crypto treasury firm suddenly started to materialise. In a Thursday press release, the firm announced it planned to pursue a crypto treasury strategy, similar to what Leshner had envisioned. The company said it has already approved allocating part of its treasury to Bitcoin and is exploring potential mining infrastructure investments through partnerships with Bitmain and Polaris Capital. 'This forward-looking shift has been spurred by Leshner, a significant voice in decentralised finance and the open market buyer of a stake in LQR House,' the release said. 'Leshner no longer intends on pursuing a controlling interest in the Company.' As for the investors who followed Leshner on his corporate takeover journey, they're probably out of luck. Yet the Compound founder said there was a silver lining to the saga. 'LQR has $20 million more capital to follow through on its plans and actually create a crypto treasury,' Leshner said, adding that he plans to recommend crypto community members to help LQR House develop its treasury strategy. 'Thank you for being a part of this unique and crazy ride with me,' he said. Tim Craig is DL News' Edinburgh-based DeFi Correspondent. Reach out with tips at tim@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
22-07-2025
- Business
- National Post
DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant
Article content CALGARY, Alberta — DevvStream Corp. (Nasdaq: DEVS) (' DevvStream ' or the ' Company '), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial composition of its crypto treasury portfolio, along with the appointment of BitGo Trust Company (' BitGo ') as qualified custodian and FRNT Financial Inc as digital treasury consultant. Article content DevvStream is deploying a forward-looking crypto treasury strategy designed to combine institutional-grade liquidity with exposure to programmable sustainability, with real-world asset (' RWA ') tokenization as a core investment thesis. The Company's treasury portfolio will initially include Bitcoin ($BTC), Solana ($SOL), and DevvE ($DEVVE), representing its dual approach to its digital asset strategy. Article content Article content Bitcoin ($BTC): Selected as the foundational asset of the digital economy, providing unparalleled security and market liquidity. Solana ($SOL): Chosen for its exceptional transaction speed and large-scale ecosystem, offering stable yield and deep liquidity for treasury management. DevvE ($DEVVE): A programmable digital asset that combines DeFi innovation and utility with the safety and security that traditional finance requires, enabling the Company's 'impact-layer tokenization' strategy. Article content 'Our treasury model isn't just about holding crypto. It's about aligning capital with our mission,' said Sunny Trinh, CEO of DevvStream. 'Our mix of assets is designed to deliver institutional-grade efficiency and income, while bridging to sustainability tokenization and real-world asset integration. Together, they position DevvStream at the intersection of liquidity, innovation, and impact.' Article content DevvStream expects to continue expanding its digital asset portfolio as part of its broader strategy to fund sustainable infrastructure, tokenize real-world environmental assets, and provide investors with diversified exposure to the emerging digital–environmental economy. Article content About DevvStream Article content Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. Article content With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs. Article content Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit or I-REC market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, DevvStream's opportunity pipeline and the ability of such opportunities to generate I-RECs, carbon credits, tax credits, or shared savings revenue each year, and the market growth and value of these markets, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Article content These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Article content Article content Article content Article content Article content
Globe and Mail
22-07-2025
- Business
- Globe and Mail
DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant
DevvStream Corp. (Nasdaq: DEVS) (' DevvStream ' or the ' Company '), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial composition of its crypto treasury portfolio, along with the appointment of BitGo Trust Company (' BitGo ') as qualified custodian and FRNT Financial Inc as digital treasury consultant. DevvStream is deploying a forward-looking crypto treasury strategy designed to combine institutional-grade liquidity with exposure to programmable sustainability, with real-world asset (' RWA ') tokenization as a core investment thesis. The Company's treasury portfolio will initially include Bitcoin ($BTC), Solana ($SOL), and DevvE ($DEVVE), representing its dual approach to its digital asset strategy. Bitcoin ($BTC): Selected as the foundational asset of the digital economy, providing unparalleled security and market liquidity. Solana ($SOL): Chosen for its exceptional transaction speed and large-scale ecosystem, offering stable yield and deep liquidity for treasury management. DevvE ($DEVVE): A programmable digital asset that combines DeFi innovation and utility with the safety and security that traditional finance requires, enabling the Company's 'impact-layer tokenization' strategy. 'Our treasury model isn't just about holding crypto. It's about aligning capital with our mission,' said Sunny Trinh, CEO of DevvStream. 'Our mix of assets is designed to deliver institutional-grade efficiency and income, while bridging to sustainability tokenization and real-world asset integration. Together, they position DevvStream at the intersection of liquidity, innovation, and impact.' DevvStream expects to continue expanding its digital asset portfolio as part of its broader strategy to fund sustainable infrastructure, tokenize real-world environmental assets, and provide investors with diversified exposure to the emerging digital–environmental economy. About DevvStream Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit or I-REC market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, DevvStream's opportunity pipeline and the ability of such opportunities to generate I-RECs, carbon credits, tax credits, or shared savings revenue each year, and the market growth and value of these markets, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Yahoo
19-06-2025
- Business
- Yahoo
Bitcoin 'Accumulator' Better Fit for Corporates Than Dollar-Cost Averaging Strategy, Research Suggests
Corporate adoption of bitcoin BTC is well-known, and most of it involves a classic buy-and-hold strategy, loosely analogous to the dollar-cost averaging (DCA) strategy. While investors of all kinds widely prefer DCA, new research by crypto options market maker Orbit Markets shows that since 2023, it has underperformed a structured product called an "accumulator," popularly known as "I Kill You Later" in traditional markets. "Our backtest results show that the accumulator strategy outperformed DCA over the past 2.5-year period," said Pulkit Goyal, head of trading at Orbit Markets, told CoinDesk. "Three-month accumulators delivered a 10% outperformance, while longer tenors did even better — six- and twelve-month accumulators outperformed by 13% and 26%, respectively." Goyal added that accumulators offer a disciplined, cost-effective approach to token accumulation, making them "a natural fit for crypto treasury companies' use case." Both DCA and the accumulator operate the same principle – stop timing the market. While DCA simplifies investing by spreading out purchases over time, the accumulator helps acquire coins at a discount in a structured setup and helps outperform DCA during bull runs. The accumulator is a time-structured product linked to the performance of an underlying asset with an upside knock-out barrier – level, which, if hit, terminates the structure. Here is how it works: An investor agrees to buy a certain amount of the underlying asset at a fixed, discounted price (the Strike) over regular intervals, such as daily or weekly, for a set period. The product runs through the pre-determined set period unless terminated early due to an early knock-out by the spot price rising to the barrier. Note that the investor has an obligation, not a choice, to buy the asset at the discounted strike price and must double the buy in case the spot price dips below the discounted strike. Consider a three-month accumulator where an investor commits to buy $1,000 worth of BTC every week at a strike price of $94,500, with a knock-out level of $115,000. The strike price of $94,500 is 90% of the current spot price of around $105,000. In other words, the investor is now mandated to snap up coins at a discount, assuming the spot price holds above the strike price of $94,500 and below the knock-out of $115,000. If BTC tops the knock-out level, the structure is terminated. If the price falls below $94,500, the investor doubles the weekly purchase to $ 4,000 at the same strike, i.e., $94,500 – there is no way out, meaning the investor ends up buying at a price higher than the prevailing market rate. (this is why it gets the nickname "I kill you later.") Hence, the accumulator is not suitable for day traders, short-term traders and speculators and may not necessarily outperform DCA in a bear market. Orbit backtested a three-month BTC accumulator, spanning from January 2023 to June 13, 2025, assuming the investor continuously rolled into a new one upon reaching maturity or a premature knock-out event. Results show an average BTC acquisition cost of $39,035 for the accumulator, which is 10% lower than the DCA average purchase price of $43,329. The DCA involved investing a fixed dollar amount in BTC every week. Longer maturity accumulators of 6 and 12 months performed even better, achieving average costs of $37,654 and $32,079, respectively, outperforming DCA by 13% and 26%.
