Financially, the company has only $2.6 million in cash, negative working capital of $600,000, and accumulated losses totaling $339.1 million. The company primarily relies on 0G token staking rewards and token sales to sustain operations—staking income for the first half of the year amounted to $3.8 million, and approximately 4.9 million tokens were sold to raise $2.4 million for daily expenses.
Crypto custody firm ZeroStack reports $82.5M loss, issues going-concern warning
TechFlowShare
Summary
Crypto market player ZeroStack reported an $82.5 million loss, with $2.6 million in cash and negative working capital of $600,000. Total losses now amount to $339.1 million. The company relies on 0G token staking and sales for cash flow, earning $3.8 million in staking rewards and $2.4 million from selling 4.9 million tokens in H1. Movements in the Fear & Greed Index may further strain the firm’s operations.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.