<b>ZeroStack Flags Survival Risk Amid $82.5M Treasury Loss</b>
Nasdaq-listed ZeroStack's financial situation has taken a turn for the worse. The crypto treasury firm recently filed a Form 10-Q with the US Securities and Exchange Commission, warning that 'substantial doubt' exists about its ability to continue operating over the next year.
This is a reversal of the company's earlier assessment, where it said its liquidity position would support operations for at least another year. In its latest filing, ZeroStack reported $2.6 million in cash and negative working capital of approximately $600,000 as of June 30.
The company's token treasury is central to its funding story. ZeroStack holds 75.1 million 0G tokens, with an aggregate recorded cost of $163.3 million and a fair value of $15.2 million as of June 30. This puts the holdings at roughly 91% below their recorded costs based on the fair value disclosed.
The company relies on staking rewards and token sales to support operations, which creates a direct link between its runway and two market variables: the price of 0G and the ability to sell tokens with sufficient liquidity. In the first half of 2026, ZeroStack reported $3.8 million in staking revenue and sold nearly 4.9 million tokens for $2.4 million.