Bitcoin treasury companies lose $80B as business model unwinds

The top 50 Bitcoin treasury companies have experienced a combined market capitalization loss of $80B as their digital asset strategies unwind. A significant portion of this decline is attributed to a single entity, with MicroStrategy alone accounting for $79B of the total loss. This trend indicates a broader unwinding of the business model adopted by these firms. Separately, an explosion at a business in Sand Springs has resulted in two confirmed fatalities.