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I don't understand the analysis of the cash position. According to the CEO report, end of December 2025:

"We raised $100 million in a capital raise that materially improved our strategic flexibility. We also ended Q3 2025 with $165.7 million in cash, cash equivalents, and digital asset treasury assets, plus $44 million in venture investments, and no debt. "2025 also strengthened our ability to act, not react.

Also according to the Q3 report: Cash and cash equivalents

Cash on hand: As of September 30, 2025, DeFi Technologies' consolidated cash on hand was $119.5 million.
Treasury holdings: As of September 30, 2025, the company's holdings included a mix of digital asset tokens totaling approximately $46.2 million.
Total value of cash and digital assets: USD 165.7 million as of September 30, 2025
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@DanDoDan You should always check AI-generated content again 🤷🏼‍♂️
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@HoldTheMike That's exactly the point of my post if you read it to the end. 👍🏼