Chainlink crypto gets its first corporate treasury firm, as struggling real estate firm pivots

Struggling real estate asset manager CaliberCos now aims to serve as an alternative investment vehicle for Chainlink.

Summary

• Chainlink gets its first publicly listed treasury company
• Caliber announced it would accumulate LINK tokens for its treasury funds
• The company has recently faced a delisting notice from Nasdaq

Publicly traded companies are increasingly betting on altcoins for their treasury pivots. On Thursday, August 28, real estate asset manager Caliber announced that its Board of Directors approved a Chainlink (LINK) digital asset treasury. The company will also stake its LINK tokens to boost the returns for investors.

The struggling firm will allocate a portion of its treasury to LINK tokens, in an apparent bid to boost market confidence. To further this strategy, the company has also appointed a crypto advisory board, which will be in charge of the company’s crypto treasury policy.

According to the Caliber Board of Directors, Chainlink has the advantage of being a liquid asset with “long-term appreciation potential”. In addition to staking and holding LINK tokens, Caliper also stated that it will use Chainlink’s blockchain in automation and key business processes such as asset valuation.

Caliber pivots to Chainlink amid business woes

Caliber’s decision comes amid struggles in its core business. Notably, just a day prior, the company received a notice from Nasdaq regarding its potential delisting from the exchange. Namely, the firm failed to comply with the minimum stockholder equity requirement of $160 million. On June 30, that figure was just $17,6 million.

Since they started trading on Nasdaq in July 2023, Caliber’s shares have fallen by more than 98%. Still, the pivot to Chainlink treasuries has attracted market attention, and the company’s stock price rose 60% after the announcement.