CaliberCos adopts Chainlink as treasury reserve amid financial woes, stock surges 60%
A publicly listed actual property agency has develop into the primary company treasury car to carry Chainlink (LINK) as a reserve asset, signaling the rising push by firms to undertake different digital belongings past Bitcoin (BTC) and Ethereum (ETH).
CaliberCos, a Phoenix-based asset supervisor whose inventory has fallen greater than 98% since its 2023 Nasdaq debut, introduced that its board authorized a technique to allocate a part of its treasury to Chainlink’s native token.
The corporate additionally plans to stake the tokens to generate yield for buyers and combine Chainlink’s blockchain know-how into core operations reminiscent of asset valuation and automation.
Treasury shift amid struggles
The pivot comes as Caliber grapples with extreme monetary strain. Only a day earlier than the announcement, Nasdaq issued the corporate a delisting discover for failing to satisfy the $160 million minimal stockholder fairness requirement.
On the finish of June, Caliber’s fairness stood at simply $17.6 million.
Regardless of its challenges, the transfer drew robust investor response. Shares surged 60% after the announcement, highlighting how digital asset publicity can present momentum to struggling corporations.
The announcement additionally comes amid a number of high-profile developments and partnerships for Chainlink, together with with Japan’s SBI and probably spot exchanged traded funds tied to LINK.
Chainlink adoption expands
With the choice, Chainlink joins Bitcoin and Ethereum as tokens adopted by company treasuries, increasing the universe of digital belongings held on stability sheets. Caliber’s board described LINK as a liquid asset with long-term development potential.
The agency’s CEO, Chris Loeffler, mentioned the technique displays Caliber’s purpose of being a diversified different asset supervisor that bridges bodily and digital infrastructure.
Alongside the treasury allocation, Caliber has additionally shaped a crypto advisory board made up of a number of consultants to supervise its digital asset coverage.
The event marks a milestone for Chainlink, whose token has risen sharply this yr amid file pockets development and rising adoption of its blockchain providers.
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