- Caliber announced plans to create a digital asset treasury focused on ChainLink (LINK) tokens.
- The company’s stock price rose 77% in pre-market trading after the announcement.
- Caliber received notice from Nasdaq about non-compliance with minimum equity listing requirements.
- The firm established a crypto advisory board to guide its digital asset strategy.
- Several public companies are shifting treasury holdings from Bitcoin to other cryptocurrencies.
Caliber, a Nasdaq-listed real estate asset manager, revealed on Thursday that it will create a digital asset treasury centered on Chainlink (LINK) tokens. The company’s board approved allocating a portion of its funds to acquire LINK, according to an official announcement.
After unveiling its digital asset plan, Caliber saw its stock price surge by 77% in pre-market trading, a gain reported by Google Finance. The uptrend continued into the early part of the trading day.
The company also created a crypto advisory board to help guide its new digital asset initiatives and policies. Despite enthusiasm from the market, Caliber disclosed that it received a formal notice from Nasdaq citing non-compliance with Listing Rule 5550(b)(1). This rule requires listed companies to maintain a minimum stockholder equity of $2.5 million. A filing with the Securities and Exchange Commission for the second quarter showed the firm had a deficit in stockholders’ equity of $17.6 million.
Nasdaq’s notice gives Caliber 45 days to submit a compliance plan for review, and up to 180 days to resolve the equity shortfall. Raising capital for the new Chainlink treasury may help the company recover its compliance with the listing standard.
Recent months have seen more companies initiating crypto treasuries focused on altcoins—cryptocurrencies other than Bitcoin. For example, Trump Media and Technology Group announced plans for a $6.42 billion Cronos (CRO) treasury. Sharps Technology, a medical technology firm, doubled its share price after disclosing a $400 million Solana (SOL) treasury earlier this week. However, not all such moves have been successful. Windtree Therapeutics, which recently created a BNB treasury, saw its share price drop 77% after facing a Nasdaq delisting warning.
The shift toward altcoin treasuries reflects a changing corporate approach to managing digital assets.
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