Companies that switched their business focus to holding digital currencies are now using borrowed money to buy back their own shares, suggesting the “crypto treasury” trend may be falling apart. Crypto treasury companies are losing moneyMost crypto treasury companies are losing money or are basically empty shell companies. The company is worth $416 million, even though it owns about $460 million worth of ether. However, some experts think these buybacks show the crypto treasury business model might be finished. But crypto treasury companies built their business on the idea that their stock value would rise faster than their crypto holdings.