Nasdaq\u2019ta i\u015flem g\u00f6ren kripto hazine grubu ZeroStack, \u00f6n\u00fcm\u00fczdeki 12 ay i\u00e7inde faaliyetlerini s\u00fcrd\u00fcrebilme (going concern) kabiliyetine ili\u015fkin \u201c\u00f6nemli \u015f\u00fcphe\u201d bulundu\u011funu a\u00e7\u0131klad\u0131; b\u00f6ylece \u00fc\u00e7 ay \u00f6nceki tutumunu tersine \u00e7evirmi\u015f oldu. \u015eirket, Cuma g\u00fcn\u00fc SEC\u2019e sundu\u011fu Form 10-Q dosyas\u0131nda 30 Haziran itibar\u0131yla 2,6 milyon dolar nakit, 600 bin dolar negatif i\u015fletme sermayesi ve 339,1 milyon dolar birikmi\u015f zarar bildirdi. 2026\u2019n\u0131n ilk yar\u0131s\u0131nda dijital varl\u0131klarda 82,5 milyon dolar ger\u00e7e\u011fe uygun de\u011fer zarar\u0131 ve 61,3 milyon dolar net zarar kaydetti.<\/p>\n\n
ZeroStack, 30 Haziran itibar\u0131yla toplam maliyeti 163,3 milyon dolar olan ve ger\u00e7e\u011fe uygun de\u011feri 15,2 milyon dolara gerileyen 75,1 milyon adet Zero Gravity (0G) token tuttu\u011funu a\u00e7\u0131klad\u0131; bu da pozisyonun muhasebele\u015ftirilen maliyetin yakla\u015f\u0131k %91 alt\u0131nda oldu\u011funu g\u00f6steriyor. \u015eirket, operasyonlar\u0131n\u0131 staking \u00f6d\u00fclleri ve token sat\u0131\u015flar\u0131yla finanse etti\u011fini, nakit \u00fcretiminin 0G fiyat hareketine ve i\u015flem likiditesine ba\u011fl\u0131 oldu\u011funu belirtti. \u0130lk yar\u0131da 3,8 milyon dolar staking geliri bildiren \u015firket, do\u011frulay\u0131c\u0131 (validator) komisyonlar\u0131 sonras\u0131 yakla\u015f\u0131k 6,6 milyon adet 0G token kazand\u0131\u011f\u0131n\u0131 ve faaliyet giderlerini kar\u015f\u0131lamak \u00fczere yakla\u015f\u0131k 4,9 milyon token\u2019\u0131 2,4 milyon dolar kar\u015f\u0131l\u0131\u011f\u0131nda satt\u0131\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131; bununla birlikte bu \u00f6nlemlerin s\u00fcreklili\u011fe ili\u015fkin belirsizli\u011fi giderece\u011fi sonucuna varamad\u0131\u011f\u0131n\u0131 kaydetti. Daha \u00f6nce esrar ve CBD \u00fcr\u00fcnleri \u015firketi Flora Growth olan firma, ZeroStack olarak yeniden markala\u015fmadan \u00f6nce 19 Eyl\u00fcl\u2019de 0G hazine stratejisi i\u00e7in 401 milyon dolarl\u0131k finansman a\u00e7\u0131klad\u0131; bu paket 35 milyon dolar nakit ve benzeri taahh\u00fctlerin yan\u0131 s\u0131ra ayni (in-kind) dijital varl\u0131klardan 366 milyon dolar\u0131n \u00fczerinde bir tutar\u0131 i\u00e7eriyordu.<\/p>\n\n
T\u00fcrev i\u015flem yat\u0131r\u0131mc\u0131lar\u0131na ZeroStack hissesinde ve yerel token\u2019\u0131 0G\u2019de sert bir a\u015fa\u011f\u0131 hareket i\u00e7in derhal pozisyon al\u0131nmas\u0131n\u0131 tavsiye ediyoruz. \u015eirketin, dijital varl\u0131k varl\u0131klar\u0131nda %91\u2019lik \u00e7\u00f6k\u00fc\u015f\u00fcn tetikledi\u011fi ani \u201chayatta kalma\u201d uyar\u0131s\u0131, yak\u0131n vadede bir likidite s\u0131k\u0131\u015fmas\u0131na i\u015faret ediyor. Piyasalar\u0131n bu s\u0131k\u0131nt\u0131ya tepki vermesiyle olu\u015fabilecek d\u00fc\u015f\u00fc\u015ften faydalanmak i\u00e7in hissede vade d\u0131\u015f\u0131 (out-of-the-money) sat\u0131m opsiyonlar\u0131 (put) hedeflenmeli.<\/p>\n\n
Tarihsel e\u011filimler incelendi\u011finde, bilan\u00e7olar\u0131n\u0131 tek bir altcoin \u00fczerine \u201cbahse\u201d ba\u011flayan halka a\u00e7\u0131k \u015firketlerin, likidite kurudu\u011funda hisse fiyatlar\u0131n\u0131n \u00e7o\u011fu zaman %85 veya daha fazla geriledi\u011fi g\u00f6r\u00fcl\u00fcyor. 2026 kripto piyasas\u0131 verileri, d\u00fc\u015f\u00fck likiditeli altcoin\u2019lerde \u015fiddetli kayma (slippage) ya\u015fand\u0131\u011f\u0131n\u0131; benzer s\u0131k\u0131nt\u0131l\u0131 sat\u0131\u015flar\u0131n g\u00fcnler i\u00e7inde ortalama %50 fiyat d\u00fc\u015f\u00fc\u015f\u00fcne yol a\u00e7t\u0131\u011f\u0131n\u0131 ortaya koyuyor. ZeroStack\u2019in hayatta kalmak i\u00e7in 0G token satmak zorunda olmas\u0131 nedeniyle, olas\u0131 bir tasfiye giri\u015fimi token\u2019\u0131n kalan de\u011ferini neredeyse kesin olarak bask\u0131layacakt\u0131r.<\/p>\n\n
Z\u0131mni volatilitenin (implied volatility) mutlaka s\u0131\u00e7rayacak olmas\u0131 nedeniyle, volatilite kaynakl\u0131 y\u00fcksek maliyeti y\u00f6netmek i\u00e7in hissede ay\u0131 put spread\u2019lerinin (bear put spread) kullan\u0131lmas\u0131 \u00f6nerilir. T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131, borsa likiditesi izin veriyorsa 0G token vadeli i\u015flemlerinde de k\u0131sa (short) pozisyon almal\u0131; son derece oynak \u201c\u00f6l\u00fc kedi s\u0131\u00e7ramalar\u0131na\u201d (dead-cat bounce) kar\u015f\u0131 s\u0131k\u0131 zarar-kes (stop-loss) seviyeleri uygulanmal\u0131d\u0131r. Ayr\u0131ca Nasdaq kotasyon gereklilikleri yak\u0131ndan izlenmeli; 600 bin dolarl\u0131k negatif i\u015fletme sermayesi yak\u0131nda uyum\/compliance uyar\u0131lar\u0131n\u0131 tetikleyebilir.<\/p>\n\n\n\n
Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":" Alarm zilleri \u00e7al\u0131yor: Nasdaq\u2019l\u0131 ZeroStack, \u201cgoing concern\u201d i\u00e7in \u00f6nemli \u015f\u00fcphe a\u00e7\u0131klad\u0131. 2,6 mn$ nakit, -600 bin$ i\u015fletme sermayesi, 339 mn$ zarar; 0G varl\u0131\u011f\u0131 %91 eridi. D\u00fc\u015f\u00fc\u015f senaryosu \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":50055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-52252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t