币股風向標丨Strategy 3年來首次賣出32枚比特幣；Bitfinex ETH持倉量增至約541.6萬枚，浮虧超81億美元（6月2日）

Editor’s Note: In last week's "Crypto-Equity Barometer" article, we highlighted quantum computing and related concept stocks. Subsequently, many of these stocks did indeed rise as anticipated, with Infleqtion and IBM seeing notable gains. This week, crypto concept stocks experienced a broad decline following news of Strategy selling BTC. A strong rebound is unlikely in the short term, and combined with the overall market downturn, the winter for crypto concept stocks may persist. Furthermore, beyond stocks like Dell (DELL) and Micron (MU) previously mentioned and invested in by former President Trump, special attention should be paid to the sector endorsed by NVIDIA founder Jensen Huang. Today, he publicly backed Marvell (MRVL), suggesting it could become the next trillion-dollar market cap company, causing its stock price to rise immediately. Additionally, statistics show that other stocks Huang has mentioned have all risen over 100% year-to-date. Among NVIDIA's investment portfolio, INTC is up 177.63%, CRWV up 57.36%, COHR up 86.74%, NOK up 149.62%, LITE up 134.39%, and MRVL up 145.47%. With the SpaceX IPO date approaching, the Matthew effect in the US stock market is expected to intensify further.

For more information on the crypto and equity markets, please refer to MSX.COM. (Odaily Note: This content does not constitute investment advice and is for learning and exchange purposes only.)

DAT Treasury Model Faces Demise; Binance Opens US Stock Trading

Opinion: Bitcoin Treasury Space Rife with "Hype Companies"

The market for Bitcoin treasury companies is increasingly polarized. On one side are firms with genuine financial strategies, while on the other are those relying more on publicity and hype.

Sean Bill, co-founder of BSTR (alongside Adam Back), stated: "Many companies lack proper capital structures and the actual capability to deploy Bitcoin. They primarily rely on Bitcoin's own performance to attract investment." Bill described such companies as "carnival barkers," noting that this strategy might work if firms can easily obtain cheap leverage. Otherwise, companies must add value through other means, or investors will opt for simpler products like ETFs.

According to BitcoinTreasuries data, 198 publicly listed companies currently hold approximately 1.25 million BTC. Michael Saylor's Strategy holds the largest amount at 843,738 BTC. Meanwhile, the stock of Bitcoin treasury company Nakamoto (NAKA) has fallen roughly 67% year-to-date, experiencing a cumulative decline of over 99% from its peak of $34 per share in May 2025. After hitting a low of $0.16 in April, it underwent a reverse stock split last week. Nasdaq warned the company in December 2025 that it faced potential delisting due to its stock price remaining below $1 for 30 consecutive days (per SEC filings).

Binance Opens US Stock Trading, Listing Over 7,000 Stocks and ETFs

Yesterday, Binance officially launched US stock trading, announcing it would offer trading in over 7,000 US stocks and ETFs for non-US users, with plans to introduce bStocks, a product for creating tokenized stocks, in the coming weeks. For more event analysis and Binance updates, see articles like"Binance's Bold Move: 5*24H Trading of 7,000 US Stocks & ETFs, Plus Stock Tokenization?" and "Binance's 'Super App Journey': From Crypto to US Stocks, Targeting 3 Billion Global Users."

Weekly Update on Listed Crypto-Equity Companies

Representative BTC Treasury Companies

Strategy Sells 32 BTC in Rare Move; DayDayCook Stands Alone in Weekly Buying

According to SoSoValue data, as of 8:00 AM EST on June 1, 2026, the total net weekly BTC purchases by global public companies (excluding mining companies) last week were $9.85 million, a decrease of 43.33% compared to the previous week.

Strategy (formerly MicroStrategy) sold 32 BTC last week at an average price of $77,135, generating approximately $2.5 million, reducing its total holdings to 843,706 BTC.

Japanese listed company Metaplanet did not purchase Bitcoin last week.

Additionally, four other companies bought Bitcoin last week. Ethereum treasury company Bitmine announced the purchase of 1 BTC on May 26 without disclosing the amount, bringing its total to 203 BTC. Japanese food brand DayDayCook announced on May 27 that it spent approximately $10.37 million to buy 131 BTC at $79,135 each, bringing its total holdings to 2,714 BTC. UK Bitcoin company The Smarter Web Company announced on May 26 it invested $750,000 to buy 10 BTC at $74,904, and on May 29 invested $660,000 to buy 9 BTC at $73,437, bringing its total to 2,878 BTC. French Bitcoin company Capital B announced on June 1 it invested $300,000 to buy 4 BTC at $74,890.10, bringing its total to 3,139 BTC.

As of press time, the total Bitcoin holdings of the surveyed global public companies (excluding mining firms) stand at 1,114,182 BTC, an increase of 0.01% from last week, with a current market value of approximately $80.46 billion, representing 5.6% of Bitcoin's circulating market cap.

Nakamoto Holds Over 5,000 BTC; David Bailey Spends Nearly $1M to Increase Stake by 191,000 Shares

Nasdaq-listed Bitcoin treasury company Nakamoto announced that Chairman and CEO David Bailey purchased 191,448 shares of the company's common stock on the open market between May 26 and May 28, expending nearly $1 million. Nakamoto disclosed that its balance sheet now holds over 5,000 BTC. David Bailey currently holds approximately 18.25% of the company's outstanding common stock.

Sequans Exits Bitcoin Treasury Strategy, Redeems Debt and Returns to IoT Chip Core Business

On May 28, French semiconductor company Sequans Communications stated it had completed the redemption of all debt related to its Bitcoin treasury, marking its official exit from the crypto asset treasury strategy and refocusing on its IoT and cellular semiconductor business. The company said the debt repayment was primarily funded by selling approximately 80% of its Bitcoin holdings. Sequans currently holds only 658 BTC, which it described as "fully unencumbered." The company stated it will gradually "monetize" the remaining Bitcoin in the future, but did not specify whether this would involve further sales or on-chain uses like collateralization.

Sequans CEO Georges Karam stated the debt cleanup "marks a significant turning point," adding that the company has strengthened its balance sheet, simplified its capital structure, and will fully concentrate on its 4G/5G IoT chip business, including applications in smart metering, asset tracking, connected vehicles, and industrial IoT.

Cango Reports Q1 2026 Earnings, Revenue Hits $102 Million

According to official news, Cango released its unaudited financial results for the first quarter of 2026. During the reporting period, the company generated total revenue of $102 million, with its Bitcoin mining business contributing $98.4 million from mining 1,266 BTC. Affected by non-cash accounting treatments due to the decline in Bitcoin's market price, the net loss was $261.1 million. Furthermore, the company's long-term debt decreased from $557.6 million at the end of 2025 to $30.6 million, a reduction of 94.5%. As of the end of the quarter, the company held 1,026 BTC as a digital asset reserve.

Simultaneously, the company launched a new business platform, EcoHash, formally expanding into the AI computing power sector and forming a strategic partnership with Hong Kong-listed company DL Group.

Representative ETH Treasury Companies

Bitmine Adds 26,497 ETH Last Week, Total Holdings Rise to ~5.416 Million ETH

Ethereum treasury company Bitmine Immersion Technologies disclosed the purchase of an additional 26,497 ETH last week. The company's current crypto asset holdings include 5,416,901 ETH, 203 BTC, equity in Eightco Holdings valued at $93 million, and shares in Beast Industries worth $180 million. Additionally, the company's total staked ETH amounts to 4,718,677 ETH (totaling $9.5 billion at $2,003 per ETH).

SharpLink to Be Added to Russell Indices After Market Open on June 29

Ethereum reserve company SharpLink will be added to the Russell 2000 and Russell 3000 indices following the FTSE Russell annual reconstitution, expected to take effect at the US market open on June 29.

SharpLink currently holds 868,699 ETH, valued at nearly $1.8 billion, making it the second-largest publicly listed Ethereum reserve company after Bitmine. The company stated that index inclusion will enhance its institutional visibility and help attract capital tracking the indices.

FTSE Russell data indicates approximately $12.2 trillion in assets are benchmarked to Russell US indices. This adjustment is also seen as the first time non-Bitcoin crypto reserve companies have entered the major Russell index system, meaning index investors will gain indirect exposure to ETH and SOL.

ETH Treasury Company FG Nexus Deposits 5,000 ETH Worth $10.99M with Galaxy Digital

On May 29, ETH treasury company FG Nexus deposited 5,000 ETH, worth $10.99 million, with Galaxy Digital. It still holds 16,354 ETH, valued at $34.15 million.

Representative SOL Treasury Companies

Forward Industries to Be Added to Russell Indices

Solana reserve company Forward Industries will be added to the Russell 2000 and Russell 3000 indices following the FTSE Russell annual reconstitution, expected to take effect at the US market open on June 29.

Forward Industries is currently the largest publicly listed Solana reserve company, holding approximately $585 million worth of SOL. The company believes index inclusion will help advance its long-term strategy of "growing SOL holdings per share."

FTSE Russell data indicates approximately $12.2 trillion in assets are benchmarked to Russell US indices. This adjustment is also seen as the first time non-Bitcoin crypto reserve companies have entered the major Russell index system, meaning index investors will gain indirect exposure to ETH and SOL.

Solana Treasury Company Sharps Technology Renamed to SkyAI, Plans AI Agent Financial Platform

Nasdaq-listed Solana treasury company Sharps Technology officially announced its name change to SkyAI, with its ticker symbol changing from STSS to SKYA on May 28. The company plans to build an AI agent financial platform on the Solana blockchain, offering diversified services such as USD savings, financial education, and asset management for users in emerging markets.

Representative Altcoin Treasury Companies

Data: HYPE Treasury Company HypeStrat's Unrealized Profit Exceeds $1 Billion

On May 30, as HYPE hit a new all-time high, the unrealized profit on the books of HYPE treasury company HypeStrat exceeded $1 billion, the highest among all crypto treasury (DAT) companies.

Genius Group Launches AI Treasury Strategy, Plans $100M Investment in Unlisted AI Companies like SpaceX, OpenAI

US-listed Bitcoin treasury company Genius Group announced board approval to expand its corporate treasury strategy, adding an AI treasury alongside its existing Bitcoin treasury and launching the AGI Infinity Portfolio. The initial target investment size is $100 million, with a five-year goal of expanding to $800 million. The first phase, approximately $20 million, will be allocated via related funds to equity in unlisted AI companies such as OpenAI, SpaceX, Anthropic, Figure AI, Databricks, Anduril, Replit, and Shield AI. The remaining $80 million is planned for investment across the industry chain, including power, computing power, hyperscale cloud, frontier models, and robotics.

BNB Plus to Raise $4.1 Million via Convertible Preferred Stock Offering

Nasdaq-listed digital asset treasury company BNB Plus announced it will raise $4.1 million by issuing Series B-1 and Series B-2 convertible preferred stock. Crypto-native institutional investors including Silvermine Capital Advisors' Comstock Multichain Fund and Off the Chain LP participated in the investment. Proceeds will be used to increase digital asset reserves, provide working capital support, and explore AI infrastructure development opportunities. The company also disclosed holding over $16.4 million in cash and digital assets.