Public company's $70 million altcoin wager plunges 77%, raising Nasdaq delisting risk
AI Market Summary
Greenlane Holdings disclosed its ~$70M cost basis in BERA has fallen to ~$16.4M by Q2 end, a 77% drawdown, contributing to a large net loss via non-cash fair-value impairment. The report highlights balance-sheet fragility and potential forced selling risk as the firm faces possible Nasdaq delisting due to prolonged market-cap weakness, reinforcing negative sentiment around BERA liquidity and governance overhangs.
Impact level
● Medium
Affected assets
BERA/USDT-2.07%
AI Insight · BERA/USDTAI Insight
▼ Bearish
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Nasdaq-listed Greenlane Holdings said it holds roughly 81.3 million BERA tokens with a cost basis of $70.2 million. By the end of the second quarter, the position's fair value had fallen to $16.4 million, a 77% drop. The company posted a Q2 net loss of $24.8 million, including a non-cash loss of $19.1 million tied to the tokens' fair-value decline. With its market capitalization continuing to slide, Greenlane may run afoul of Nasdaq listing standards and could face delisting without a remediation period.
