Caliber is pivoting to a digital treasury with Chainlink (LINK), establishing a cryptocurrency advisory board, which has helped its stock rise significantly despite facing the risk of being delisted by Nasdaq.
The move targeting LINK may be an effort to strengthen equity and financial strategy, but it comes with the risk of digital asset volatility and the requirement to comply with accounting and listing regulations.
KEY CONTENT
Caliber approves a digital treasury strategy focused on LINK, with shares rising 77% in the pre-market.
The company was warned for non-compliance with Nasdaq Rule 5550(b)(1) regarding minimum equity of $2.5 million, with a deficit of $17.6 million according to the Q2 SEC filing.
The trend of altcoin treasury is accelerating (CRO, SOL), but risks are present (the case of Windtree dropping 77%).
What has Caliber just announced and how did the market react?
Caliber approves a treasury strategy focused on Chainlink (LINK) and establishes a cryptocurrency advisory board. Shares increased 77% during the pre-market session and maintained the upward momentum at the beginning of trading, according to Google Finance.
According to the announcement on 28/08/2025 (Vietnam time), Caliber's board of directors allows allocating some resources to purchase LINK. At the same time, the company establishes an advisory board to guide digital asset strategy. Google Finance data recorded a 77% increase in pre-market and maintained early trading, reflecting positive investor expectations.
Source: GlobeNewswire; Google Finance.
Why is Caliber facing the risk of being delisted by Nasdaq?
Caliber received a notice of non-compliance with Nasdaq Listing Rule 5550(b)(1), requiring a minimum equity of $2.5 million. The company has 45 days to submit a remedial plan and a maximum of 180 days to comply.
The Q2 2025 SEC filing indicates Caliber's equity is negative $17.6 million. If not improved, the company may lose its listing status. Establishing a LINK treasury may be part of a capital restructuring plan, but it also entails asset value volatility and requires presentation according to current accounting standards.
Source: Nasdaq Listing Center; SEC EDGAR.
What is Chainlink (LINK)?
Chainlink is a decentralized oracle network that provides real-world data for smart contracts. LINK is a utility token used to operate the network and reward node operators.
Oracles help blockchain applications access price data, events, off-chain APIs. With the DeFi and enterprise ecosystem, Chainlink provides services such as decentralized price feeds, automation, data verification, and supports multiple blockchains. Holding LINK means betting on blockchain data infrastructure.
Source: Chainlink technical documentation.
Why are some companies considering LINK for their treasury?
Businesses may view LINK as a strategic asset linked to oracle infrastructure, anticipating demand for on-chain data. However, this is a highly volatile asset, different from fiat currency.
LINK is associated with the Chainlink network's activities, used in the incentive and security mechanism of oracle services. If data demand increases and trust in the network is high, the expected value can improve. However, technological risks, infrastructure competition, and the cryptocurrency market cycle can all affect performance.
How is the trend of altcoin treasury accelerating?
After the pioneering wave with Bitcoin, more businesses are announcing altcoin treasuries. Recently, there are plans from Trump Media Group with Cronos (CRO) and Sharps Technology with Solana (SOL).
During the week, Trump Media and Technology Group announced a strategy to build a treasury of at least $6.42 billion using CRO. Sharps Technology's shares nearly doubled after announcing a $400 million Solana treasury. However, not all efforts are successful: Windtree Therapeutics dropped 77% after Nasdaq announced it would delist despite previously pursuing a BNB treasury.
"This investment reflects our belief that Bitcoin, with its status as the most widely accepted cryptocurrency, is a reliable store of value and an attractive investment asset with the potential for superior long-term appreciation compared to holding cash."
– Michael Saylor, CEO of MicroStrategy, 11/08/2020, MicroStrategy press release
What benefits does an altcoin treasury provide compared to Bitcoin?
Altcoins open up growth stories linked to specific infrastructure or applications, which can amplify profits if the project succeeds. However, technical risks and volatility are often higher than Bitcoin.
Bitcoin is seen by many organizations as a digital treasury asset over time. Altcoins like LINK, SOL, CRO are linked to the usage ecosystem, so performance depends on product progress and ecosystem development. Businesses need to assess financial goals, risk appetite, and liquidity levels before allocation.
What is the main risk when a company holds altcoins for treasury?
Risks of price volatility, liquidity, accounting presentation, listing compliance, and market sentiment are critical. A sharp decline in value can negatively impact capital safety ratios.
Since ASU 2023-08, FASB requires measuring cryptocurrency assets at fair value in the accounting period starting after 15/12/2024, allowing timely reflection of gains and losses but making reported results more volatile. Liquidity may thin during market stress. Additionally, technological risks, custody, and internal control compliance must be tightly managed.
Source: FASB, ASU 2023-08.
How can Caliber leverage the accounting and governance framework?
Applying fair value measurement, risk hedging policies, safe custody, and transparent disclosures helps reduce perceived volatility and operational risks.
The company can set position limits, profit/loss-taking rules, rebalancing periodically, assess liquidity risk, and use custodians meeting audit standards. Regular disclosures about objectives, allocations, valuation methods, and internal controls will reinforce investor confidence, supporting compliance with listing regulations.
What milestones should investors monitor next?
The 45-day deadline to submit a remedial plan to Nasdaq and a maximum of 180 days to meet equity capital requirements is crucial. Additionally, monitor the progress of the LINK treasury implementation.
Investors should monitor: Nasdaq's response to the plan, actual LINK purchases, allocation proportions, risk governance policies, and the impact on equity over reporting periods. Stock price movements and liquidity also reflect expectations for the new strategy.
Comparison table: Asset selection for cryptocurrency treasury
Asset Type Advantages Disadvantages Suitable for Bitcoin (BTC) High liquidity, clear store of value narrative, broad recognition Significant volatility, limited internal cash flow Businesses prioritize relative stability in cryptocurrency Infrastructure altcoins (e.g., LINK, SOL, CRO) Growth potential linked to ecosystems, diversification Very high volatility, technological risk and competition Businesses accept risks to seek alpha Stablecoins Reduced volatility, flexible trading Issuer risk, regulation Need for cash flow management, short-term liquidity
Frequently Asked Questions
Will the LINK treasury help Caliber comply with Nasdaq rules immediately?
Not automatic. Caliber must meet a minimum equity capital of $2.5 million according to Rule 5550(b)(1) and submit a plan within 45 days. The LINK treasury is just one part of the overall strategy. Source: Nasdaq Listing Center.
How long does Caliber have to rectify the violations?
The company has 45 days to submit a plan and, if approved, a maximum of 180 days to meet listing requirements. Source: Nasdaq Listing Center.
Why did shares increase by 77% after the announcement?
The market reacted positively to expectations of the new strategy and the cryptocurrency advisory board. A 77% increase was recorded in the pre-market and at the beginning of trading. Source: Google Finance.
What is the biggest risk of holding altcoins in a treasury?
Strong price volatility, liquidity, technological risks, and fair value accounting presentation can lead to fluctuations in reported profits. Source: FASB ASU 2023-08.
Who are the pioneering companies in cryptocurrency treasury?
MicroStrategy has led with a Bitcoin strategy since 2020, emphasizing the long-term store of value argument. Reference: MicroStrategy press release 11/08/2020.
Source: https://tintucbitcoin.com/caliber-tang-77-giua-dieu-tra-nasdaq/
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