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An Abandoned Crypto SPAC Deal Highlights The Decline Of Digital Asset Treasuries
Companies whose main agenda is to buy and hold crypto appear to be out of vogue.Credit: Photographer: Andrey Rudakov / Bloomberg via Getty ImagesKey TakeawaysCantor Equity Partners I and BSTR Holdings were supposed to create a public bitcoin treasury with over 30,000 coins on the balance sheet. Now those plans are being reworked to account for “current market conditions.”High-flying digital asset treasury companies, known as DATCOs, including Tom Lee’s Bitmine Immersion Technologies, Eightco, and others have seen their share prices fall sharply over the last year.Digital asset treasury…
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