Real Estate Firm's $8M Crypto Bet Leaves Usable Liquidity Unclear
La Rosa Holdings, a real estate services company, has revealed in its delayed first-quarter filing that it holds $8.14 million worth of digital assets in a restricted BitGo custodial account.
The majority of this balance is comprised of USDC and Frax USD, with cash standing at $1.74 million and total liabilities at $28.34 million.
La Rosa has used two different figures for the restriction, with one company release describing approximately $3.9 million as restricted under a token right, while the 10-Q puts the full balance in the restricted category due to broader financing controls.
The company's liquidity is tight, with a quarterly net loss of $13.47 million and current liabilities of $12.06 million. Management has warned that working capital, cash, and operating cash flow will fall short of projected operating expenses for at least 12 months.