Crypto treasury companies are facing significant financial pressure. Bitcoin and Ethereum fell nearly 30% in a recent week. This drop erased an estimated $25 billion in unrealized value from their balance sheets. Public data shows that no major crypto treasury firm currently holds assets above their average purchase price. The widespread decline has pushed most of their strategies into loss-making territory simultaneously. This raises serious concerns about liquidity, future financing, and long-term business viability. The sell-off impacted all treasury-heavy firms at once. The largest holders recorded the deepest paper losses. While these are unrealized, their scale weakens corporate balance sheets and equity valuations. The market mood has shifted from rewarding crypto accumulation to pricing survival risk. A key indicator of