Crypto treasuries wobble 🥴

Some crypto treasury firms are looking to sell part of their holdings, while ETHZilla is pivoting away from the treasury label entirely as it rebrands.

Author

Stephen Graves
February 26, 2026

📝 What you need to know

Cracks are starting to appear in the crypto treasury strategy, with Bitcoin treasury firm GD Culture the latest to mull selling some of its holdings. The company approved the sale of some of its $518 million worth of BTC, obtained as part of an acquisition last year, in an effort to fund a new share repurchase program.

It joins firms including Bitcoin miners Riot Platforms and Cango, which have dumped some $500 million in BTC to fund a pivot to AI.

Also pivoting hard is Ethereum treasury firm ETHZilla, which is planning to rebrand as Forum Markets as it shifts away from ETH balance-sheet exposure to tokenized real-world assets.

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