
Corporate Treasury Adoption of Digital Assets: Financing Strategies, Market Reactions, and Advisor Incentives
Since MicroStrategy’s pioneering move in 2020 to adopt Bitcoin as a corporate treasury asset, listed firms across various sectors have explored similar strategies. This paper examines the financing mechanisms companies employ to acquire digital assets, the equity market’s reaction to such announcements, and the role of external advisors in shaping outcomes.
Aug 22, 2025
Case Studies: XPL and WLFI Liquidations on Hyperps
In the lead-up to major listings, there has been growing market interest in using pre-market derivatives for position hedging, particularly around names like Plasma (XPL) and World Liberty Financial (WLFI). Investors, qualified airdrop holders and speculators build demand for short positions in these instruments. While these strategies can be effective, they also introduce complexities that aren’t always obvious at first glance.
Sep 19, 2025