**Corporate Treasury** Corporate treasury—the nerve center where companies manage cash, reserves, and liquidity—is undergoing a quiet revolution as digital assets shift from curiosity to core balance-sheet strategy. What was once a back-office function now moves stock prices, shapes capital raises, and redefines competitive positioning, making it essential terrain for investors and CFOs alike. The recent numbers are striking. Strategy holds 842,138 BTC after selling 1,638 coins—its first sale in years—while stacking a $3.75 billion USD war chest and pausing purchases. Strive added 3,311 BTC for $280 million, closing the gap with MARA for top corporate-holder status, and Bitmine's Ethereum treasury swelled to 6.03M ETH (4.9% of supply, 84% staked and earning yield). Meanwhile, HSBC is pitching tokenised deposits that could keep treasury operations humming 24/7, trimming costly pre-funding float—though interoperability hurdles remain. The takeaway: corporate treasuries are becoming active trading engines, not passive vaults. Watch how firms balance accumulation against liquidity buffers, staking income, and tokenized rails—these decisions now ripple through entire crypto markets.