Greenlane recorded a $19.1 million noncash valuation loss as BERA’s price fell nearly 76% year to date.
Greenlane Holdings’ BERA-focused crypto treasury ended the second quarter valued at $16.4 million, less than a quarter of its $70 million cost basis, according to a regulatory filing.
On Friday, the company said it held 81.3 million BERA and BERA-equivalent tokens as of June 30. The $53.8 million gap between their cost and fair value left the portfolio 76.6% below cost.
Greenlane reported a $19.1 million noncash fair-value loss on digital assets during the quarter, contributing to a net loss of $24.8 million. Meanwhile, its digital asset segment generated $309,000 in staking and yield revenue over the same period.
Read more
Read the full article here
