10X Research: Retail investors have lost $17 billion buying stocks of digital asset treasury companies

Jinse Finance reported, citing Bloomberg, that Singapore-based cryptocurrency research institution 10X Research released a report indicating that retail investors who purchased stocks of digital asset treasury companies have suffered losses amounting to $17 billion. Analysts pointed out that US-listed companies choosing some small-cap tokens as treasury reserves may expose retail investors buying company stocks to risk if market sentiment shifts. Bloomberg provided the following examples in the article: 1. Tharimmune raised $545 million to establish a Canton Coins treasury, pricing the Canton token at $0.2 during fundraising, but the current market price of the token is $0.11; 2. Alt5 Sigma raised $1.5 billion to establish a WLFI treasury, pricing the WLFI token at $0.2 during fundraising, but the current market price of the token is $0.14; 3. Flora Growth raised $401 million to establish a 0G treasury, pricing the 0G token at $3 during fundraising, but the current market price of the token is $1.2.