Empery Digital Shareholder Urges BTC Sale, CEO Exit

Tice P. Brown, a major shareholder owning about 9.8% of Empery Digital, sent a letter demanding the company liquidate its 4,081 Bitcoin treasury, return the proceeds to investors, and force the resignation of CEO Ryan Lane and the entire board. Brown accused management of entrenching themselves, rejecting a prior offer by the company to repurchase his shares at a premium to net asset value (mNAV) as a move to preserve management positions. Empery Digital countered that Brown was misrepresenting facts for a self-serving campaign, stating they attempted to reach a repurchase agreement in the company's best interest. The dispute highlights mounting tension over Empery Digital's strategy, which pivoted from manufacturing electric vehicles to becoming a Bitcoin aggregator, making it one of the top 25 public Bitcoin holders globally.

(Source：Cointelegraph)