Public crypto treasury companies are in the news right now.Just this week, Sharplink Gaming announced a $425 million raise to create an Ethereum treasury vehicle, backed by Consensys. Meanwhile, Trump Media said it will buy $2.5 billion worth of bitcoin. And in a headline grab, GameStop revealed a $500 million Bitcoin purchase. There’s even a newly launched XRP treasury company backed by Saudi royal capital.But why are these vehicles suddenly the structure of choice for accessing crypto exposure? What kinds of assets are best suited for them? And are they safe or a ticking time bomb?Pantera Capital’s Cosmo Jiang joins Unchained to unpack: The structures and strategies behind these companies Why Solana is appearing more than Ethereum (and what that says) How XRP’s brand power could matter more than its adoption The risks these vehicles pose to investors and to marketsVisit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.comThank you to our sponsors! Bitkey: Use code UNCHAINED for 20% off Focal by FalconXGuest Cosmo Jiang, General Partner and Portfolio Manager for Liquid Strategies at Pantera CapitalLinks Previous coverage of Unchained on bitcoin treasury companies: Why Twenty One Capital Is More About Volatility Than Bitcoin Twenty One Aims to Buy as Much Bitcoin as Possible. Can It Succeed? Unchained:  Trump Media Confirms $2.5B Capital Raise to Buy Bitcoin Consensys Leads $425M Raise for SharpLink Gaming’s ETH Treasury Plans The Block: GameStop buys 4,710 bitcoin for corporate treasury: filing CoinDesk: VivoPower Raises $121M to Launch XRP Treasury Strategy With Saudi Royal Backing Bloomberg:  Cantor’s $2 Billion Bitcoin-Backed Lending Arm Makes First Deals The Stock Market Loves BitcoinTimestamps: 👋 📈 🏗️ 🎲 🔍 💰 🔥 📣 🙋‍♂️ ⚠️ 📊 Learn more about your ad choices. Visit megaphone.fm/adchoices