Greenlane's $70M Berachain Token Investment Drops 77% to $16M, Sparks Nasdaq Delisting Concerns
Greenlane, a public company, saw its $70 million investment in the Berachain token (BERA) plummet by 77% to $16 million. This loss has raised concerns regarding the company's corporate governance and potential delisting from the Nasdaq exchange.
Why it matters
The incident highlights the extreme volatility risks associated with corporate treasury strategies that rely on speculative cryptocurrency assets.
The public company's altcoin treasury strategy backfired as BERA holdings shrank to roughly $16 million by quarter's end.
Greenlane, a publicly traded company, disclosed that its $70 million treasury allocation to the Berachain token BERA had shrunk dramatically. By the close of the second quarter, the holding was worth approximately $16 million. That marks a decline of roughly 77% from the original investment.
The move reflected a broader trend among small public companies experimenting with crypto treasury strategies. Some firms have shifted corporate cash reserves into Bitcoin, Ethereum, or newer altcoins, hoping to boost their balance sheets and stock appeal. Greenlane's bet on BERA, a token tied to the Berachain network, represented a more speculative version of that strategy.
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