The financiers are fed up and no longer want to play.

Shareholders of Bitcoin treasury company Empery Digital call for CEO to resign and liquidate all Bitcoin
Tice P. Brown, a shareholder holding 9% of Empery Digital Inc., sent a letter to the board of directors, urging CEO Ryan Lane to resign immediately, replace board members, and liquidate all Bitcoin holdings.
Tice P. Brown stated that Empery Digital Inc. management privately approached him with an offer to buy back all his shares at a price equivalent to 100% of mNAV (market asset net value), which is a significant premium over the current market valuation, on the condition that he personally sign a suspension agreement. The management made this offer via a buyback broker call on February 18 and confirmed it in writing on February 23. Brown has rejected the offer.
Tice P. Brown said: “When minority shareholders are clearly eager to recover their funds, this proposal is especially offensive. For months, shareholders have been selling their shares to the company's buyback program at a huge discount well below the immediate liquidation value. Management has repeatedly made it clear that they will take every action to put themselves between shareholders and our capital, continuing to extract salaries and expenses from us.
I once again call for CEO Ryan Lane to resign immediately, for the entire board of Empery Digital Inc. to be replaced immediately, and for all Bitcoin holdings to be sold immediately, with the proceeds returned to shareholders.”
According to the latest data as of February 2026, Empery Digital holds 4,081 BTC, ranking roughly in the top 25 among publicly listed Bitcoin treasury companies. $BB