Public crypto treasury companies are in the news right now.
Just this week, Sharplink Gaming announced a $425 million raise to create an Ethereum treasury vehicle, backed by Consensys. Meanwhile, Trump Media said it will buy $2.5 billion worth of bitcoin. And in a headline grab, GameStop revealed a $500 million Bitcoin purchase. There’s even a newly launched XRP treasury company backed by Saudi royal capital.
But why are these vehicles suddenly the structure of choice for accessing crypto exposure? What kinds of assets are best suited for them? And are they safe or a ticking time bomb?
Pantera Capital’s Cosmo Jiang joins Unchained to unpack:
The structures and strategies behind these companies
Why Solana is appearing more than Ethereum (and what that says)
How XRP’s brand power could matter more than its adoption
The risks these vehicles pose to investors and to markets