Many Crypto Treasury Companies Were a Get-Rich-Quick Trap, Warns Columbia Professor

Columbia Business School professor Omid Malekan said that any analysis of why crypto prices continue to fall needs to include Digital Asset Treasuries (DATs), because in aggregate, they turned out to be a mass extraction and exit event, which is a reason for prices to go down.

He said there are a few exceptions, but he added that he can count them on one hand. Meanwhile, “dozens upon dozens” were launched in a fashion likely to cause value destruction for crypto assets. He argued that, based on his interactions, many of the people launching DATs viewed the model as a get-rich-quick scheme.