Greenlane logs $53.6M loss as BERA holdings plunge

Greenlane Holdings, a corporate buyer of Berachain token BERA, is sitting on an unrealized loss of about $53.6 million as BERA has fallen sharply. The company currently holds 81.3 million BERA valued at about $16.4 million as of late June, after investing roughly $70 million to acquire the position, leaving it with an unrealized loss of about 76.6%. BERA is down about 75.9% since the start of the year. Separately, Greenlane posted a net loss of $24.8 million for the second quarter, including $19.1 million in crypto-related valuation losses.