Empery Digital CEO faces ouster demands after 46% loss on $258M Bitcoin treasury

On February 23, 2026, Empery Digital shareholder Tice P. Brown demanded the removal of CEO Ryan Lane and the entire board after the firm's Bitcoin holdings fell about 46%, cutting the treasury value to roughly $258.40 million. Empery Digital's market cap has dropped to around $147 million, below the value of its BTC, while Brown also criticized a $105 million margin loan and alleged day trading in Bitcoin derivatives. Similar governance clashes have emerged at CEA Industries and YZi Labs over large crypto reserves in BNB and other assets.