Digital asset management companies face reshuffling: at least five may be eliminated

2025-12-27 11:20:09

【Crypto World】The cryptocurrency market is tightening, and an industry reshuffle is underway. According to the latest analysis, at least five digital asset management companies may face forced asset sales, mergers and acquisitions, or even bankruptcy.

Currently, many asset management companies’ valuations have fallen below their net asset value—industry term: mNAV below 1. This directly affects their ability to raise funds. Will investors still be willing to invest? It depends on whether the company’s equity premium can be maintained. But the reality is, this premium has been shrinking continuously.

The harsh truth is that only companies with a solid capital structure can survive. As for those relying on a bullish market to rapidly expand with a light asset management model? Those good days are indeed over. The market has changed, competition has become fiercer, and the pressure is greater.

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JustAnotherWallet

· 9h ago

The bubble inflated by the bull market is popped in the bear market—that's the magic curse of crypto. --- Once mNAV drops below 1, it's game over. It's been obvious for a long time that these asset management companies are full of water. --- The model of rapid expansion during the bull market should go bankrupt. Eliminating those who can't adapt is what the market is supposed to do. --- Five out? I bet more than ten will fail. You guys watch. --- Those with poor capital structures should be crying now. The hype from the past two years is hurting just as badly now. --- This is called survival of the fittest. Overinflated asset managers should have been kicked out long ago. --- Investors still throwing money in? Dream on. Who dares to touch their money right now? --- The lightweight asset management game is just a game of hot potato. Now the drum has stopped.

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ZKProofster

· 13h ago

mNAV below 1 is basically just math proving what we already knew—these firms built on hot air. trustless markets don't forgive poor capital structures, actually.

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down_only_larry

· 13h ago

It's the same story again. Once mNAV drops below 1, they start to talk down the project, but I really haven't seen who will be eliminated yet. The lightweight asset model really can't be played anymore. I've said before that this approach has issues. Five companies? Is this for real this time, or is it just hype again?

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CryptoCross-TalkClub

· 13h ago

Laughing out loud, mNAV below 1 is the "harvested" version of asset management "leeks" --- This wave, the bull market hype finally paid off, time to pay off the debt --- Light asset model? That's just a renamed air model --- Five companies out, I bet no one expected to be chosen by a shitcoin --- Investors aren't stupid, still pouring in despite the premium shrinking? Then their brains are really waterlogged --- Solid capital structure ≈ When the bear market comes, don't be afraid, keep it simple and brutal --- This is what you call the market giving you a lesson, the tuition is extremely expensive

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SerNgmi

· 13h ago

It's another harvest. Those bragging asset management companies should wake up. mNAV drops below 1 and starts to shake. Frankly, it's still not backed by real gold and silver. The lightweight asset approach is a joke in a bull market. Now the true colors are showing. Let's wait and see which one will fail first. Anyway, new patterns will definitely emerge as this wave subsides. This is true survival of the fittest. The leeks need to open their eyes and see who the real players are.

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NFTDreamer

· 13h ago

The quick money dreams during a bull market should wake up now. Only after this wave can we see who truly has strength. If mNAV falls below 1, it's a true test. No matter how loud those hype, it's all useless. Five companies out? I think there will be more, anyway, it's not my concern. If you can't raise funds, it's a dead end. Someone should have tasted this feeling long ago. This is called "the big waves wash away the sand," it was expected from the start. If the capital structure isn't solid, it will fail sooner or later. Don't blame the market for being ruthless. The real big players are now bottom-fishing, retail investors are just digging their own graves.

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BearMarketSurvivor

· 13h ago

The bubbles blown by the bull market must be paid back in the bear market. Those light-asset models should have died long ago. --- Another one going bankrupt? I already said that all the entrants this time are just leeks. --- When mNAV drops below 1, it's time to wake up. What are you still thinking about? --- Wow, if the capital structure isn't good, you really can't survive. Do you understand now? --- Those who grew wildly during the bull market are facing their retribution today. --- Difficult financing is inevitable; without real strength, you'll be out sooner or later. --- Shuffling out five companies? I think it's more than that. --- Light-asset management is basically a joke; it should have been cut long ago. --- The premium on equity has been shrinking all along. What does that mean? It means no one is optimistic. --- Those who truly survive are the ones with deep roots and solid foundations; everything else is just luck.

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