Public companies holding cryptocurrency reserves have suffered about $50 billion in shareholder losses as weak stock performance widens the gap between their market values and underlying digital assets. The fully diluted market capitalization of listed companies invested in Bitcoin and Ether has fallen to about $90 billion, roughly 40% below its peak. SkyAI shares have dropped about 90% since the Solana treasury company completed fundraising for its business transition in August 2025, while Metaplanet has fallen 84% from its June 2025 peak after making Bitcoin a core asset. Investor criticism is increasingly focused on management incentives, dilution, employee compensation, equity awards and related-party transactions. Metaplanet has canceled some warrant agreements and redesigned its compensation plan, following an earlier reduction in executive stock acquisition rights. Other firms, including Empery Digital, Satsuma Technology, GD Culture and FG Nexus, face demands for liquidations, asset sales, buybacks or management changes.