[Multiple Crypto Treasury Companies Shift to Digital Credit Financing Model] According to the Financial Times, due to the weakening prices of cryptocurrencies like Bitcoin, several crypto treasury companies, whose core business revolves around holding crypto assets, have shifted to a 'Digital Credit' financing model following declines in their stock prices. Strategy has promoted this model by offering investors high-yield perpetual preferred shares, using the raised funds to purchase Bitcoin. Since its launch approximately 10 months ago, it has attracted around $10.5 billion in capital inflows. Companies such as Strive Asset Management, The Smarter Web Company, and Capital B plan to follow suit. However, as the dividends on preferred shares rely on continuous financing support, some analysts have expressed concerns about its sustainability. Meanwhile, the popularity of the crypto reserve concept has waned, with the stock prices of several companies experiencing significant declines. Some enterprises have sold off crypto assets and returned to their core businesses.