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Empery’s Bitcoin treasury faces revolt after 49% stock crash

Empery Digital Inc., a major corporate holder of Bitcoin, is facing a significant internal revolt from its shareholders following a 49% crash in its stock price. A key shareholder, Tice Brown, who owns 9.8% of the company, has publicly demanded the immediate sale of the firm's entire Bitcoin treasury, the return of the proceeds to investors, and the resignation of the CEO and Board of Directors. Brown accused management of self-enrichment and criticized a recent share buyback offer as a move to protect their own positions rather than investor capital. The company holds 4,081 BTC, valued at approximately $265.7 million, but is facing a 44% loss on its investment with an average purchase price of $117,000. The value of its Bitcoin holdings has declined by $244 million since October, mirroring the steep drop in its stock price. The shareholder's demand to liquidate the Bitcoin position poses a risk of further depressing BTC's price, which would, in turn, cause additional losses for the company and its shareholders.

ambcrypto02/25 12:04