#57 - Treasury Report Q4, 2025
Breakdown of the Beam ecosystem treasury (the “Treasury”) as of December 31st 2025
We are delighted to share the third quarterly Treasury report of 2025.
As always, this report is intended to provide a transparent overview of the Treasury’s financial status. In the report, we share a breakdown of the Treasury as of December 31st 2025, including current investments and other financial activities.
Summary
During the past quarter, the Treasury value decreased from $197,709,847 as of September 30th 2025 to $174,679,179 as of December 31st, 2025. This represents an decrease of 11.65% compared to the previous quarter. During the same period, Bitcoin was down by 23.24%, while ETH was down by 28.41%. The total crypto market cap, represented by the CCI30 index, saw a decrease of 33.62%. Despite this market-wide downturn, the Treasury’s decline was materially lower, reflecting relative outperformance versus the broader crypto market.
In addition, the current BEAM holdings in the Treasury distributed across Ethereum, Beam Network, BNB Smart Chain, and Avalanche is 9,926,852,982.50 tokens valued at $26.86m. There were 40,339,617 BEAM tokens burned during Q4 2025.
Treasury overview
As of December 31st 2025, the Treasury balance is valued at $174,679,179. In addition, the Treasury contains 9,926,852,982.50 BEAM tokens valued at $26.86m.
The Treasury also holds some very small positions, airdrop dust, residual tokens or gas fee money, with values lower than 0.001% of the total Treasury, these balances are not recorded unless they become more significant in value.
We will break down the Treasury in three categories; liquid crypto assets, NFTs and venture investments.
Liquid assets
NFTs
Tokens & equity
*Other
The Treasury dashboard includes a section for “Other Investments”, split across the three categories of liquid crypto assets, NFTs and venture investments. Since the start of the year and during the last quarter, some of the portfolio projects have been underperforming and have seen a significant loss of value. The Other Investments line item aggregates the costs and current realizable value of those projects that have underperformed and thus will usually reflect a significant loss relative to the cost amount.
We feel it is important to be transparent with the community while maintaining the quality of the Treasury reports, thus positions which have negligible value or are written off can be tracked as “Others”, removing the need to provide each one with its own line.
Portfolio update
We firmly believe that providing thorough and meaningful Treasury reports is paramount to our mission of transparency and accountability. It is with this commitment in mind that we’re excited to present a more comprehensive overview of the state of the investment portfolio.
In this update, we provide insights into the specifics of some of the largest or most exciting investment positions. This includes new investments or important updates to current portfolio projects.
We firmly believe that providing thorough and meaningful Treasury reports is paramount to our mission of transparency and accountability. It is with this commitment in mind that we’re excited to present a more comprehensive overview of the state of the investment portfolio.
In this update, we provide insights into the specifics of some of the largest or most exciting investment positions. This includes new investments or important updates to current portfolio projects.
Zentry
Zentry closed December 2025 with meaningful upgrades across infrastructure, product, and AI integration.
Their flagship zTerminal product also entered a new phase. With YouTube integration, real-time social sentiment, and AI-powered querying, it evolved into a full agentic console for crypto intelligence, offering users a personalized, execution-ready interface across market narratives, creator feeds, and protocol data.
By year-end, Zentry surpassed 150,000 users and had processed over 100 billion data signals. Its ecosystem now fronts analytics, social and market news evolving from its gaming background, with further integrations planned under its platform.
Aethir
Aethir closed 2025 with major technical upgrades, ecosystem integrations, and signs of deeper institutional interest. The team finalized its GPU-as-a-service rollout on Solana, extending access to over 430,000 GPU containers across decentralized AI and gaming workloads. This follows prior deployments on Avalanche, Polygon, and Ronin.
Aethir also completed a key infrastructure milestone: cross-chain asset mobility via Chainlink CCIP. Over $390M in ATH has now moved securely between Ethereum and Ronin without relying on centralized bridges — a move aligned with Aethir’s decentralization-first model.
Meanwhile, commercial partner Axe Compute (AGPU) completed its NASDAQ restructuring listing, formalizing institutional access to GPU revenue powered by Aethir nodes. Enterprise momentum also continues to build off the $344M Strategic Compute Reserve seeded by Predictive Oncology earlier this year. Alongside Aethir ended the year with over $100m+ in ARR and 1.4 billion compute hours delivered.
Monad
Shortly after Q3 2025, Monad officially launched its mainnet and kicked off one of the year’s most anticipated L1 rollouts. Built around a parallelized EVM capable of processing up to 10,000 transactions per second, Monad attracted immediate traction with over $110M in total value locked within 48 hours of launch.
DeFi activity ramped up in December, anchored by the integration of Orbs’ Perpetual Hub Ultra into Atlantis — a protocol built natively on Monad. This unlocked CEX-style leverage trading within a decentralized environment, bolstered by Monad’s high throughput and composability.
The network’s broader roadmap remains focused on scalability, high-frequency DeFi, and smart contract interoperability. Recent debates sparked by Vitalik Buterin’s critique of “corposlop” platforms have placed additional attention on Monad’s decentralization commitments heading into 2026.
We continue to monitor developer traction and ecosystem incentives ahead of broader liquidity events.
Power Protocol and the Pixion Games Ecosystem
Power Protocol in partnership with Pixion games officially launched the $POWER token on December 5, 2025, aligning with Fableborne Season 4. The token powers a unified Web3 entertainment protocol spanning gameplay, infrastructure, and incubation. At launch, $POWER featured immediate in-game utility, allowing players to stake NFTs, unlock premium events, and earn ecosystem rewards, while long-term expansion loops include SDKs, cross-game reputation, and third-party developer integrations.
Season 4 introduced core staking mechanics through the Kingdom NFT collection, with 1.66M $POWER allocated to player rewards. Meanwhile, Pixion confirmed a forthcoming partnership with a publicly listed digital entertainment company ($600M+ user spend) to extend $POWER adoption beyond Fableborne and into broader consumer ecosystems.
This launch marks the protocol’s shift from single-game tokenization to programmable engagement infrastructure across Web3 games and apps.
Dreamcash
Dreamcash closed Q4 with one of the fastest early trajectories in recent DeFi memory. Initially spun out as a mobile-first frontend for Hyperliquid, Dreamcash processed over 100,000 waitlist signups around October and to-date has processed over $2.7 billion trading volume and $900,000 in fees
Built as a frictionless crypto wealth platform, Dreamcash combines AI-driven trade analytics, automated yield strategies, and native support for decentralized perps. It removes onboarding friction through mobile-first design and no-KYC entry, while offering delta-neutral yield vaults that aim to democratize access to advanced trading strategies.
Beyond product traction, Dreamcash also reflects Beam’s evolution.anchoring Beam’s long-term ambitions to build in close proximity to institutional capital, trading and emerging market infrastructure..
Dreamcash is marked in the Beam treasury report at $49,000,000.
Treasury dashboard
We have updated our treasury dashboard with the most recent data as of December 31st, 2025.
Following numerous community requests, we’ve added exciting new features to the treasury dashboard, with the most important being the ability to display our complete treasury balance, including our BEAM holdings. While we’re proud of our substantial non-native treasury, we also want to present the full picture.
As development continues to evolve, we welcome feedback through any of our social channels. Without further ado, we invite you to explore the current treasury status on our updated dashboard.
Visit the dashboard here - treasury.onbeam.com
Wallet overview
To operate completely transparently, we would like to provide a full list of wallet addresses the Treasury currently utilizes.
Beam
Binance smart chain
Ethereum
Ronin
Solana
Looking forward
As we head into the last quarter of the year, we’re more motivated than ever to continue pushing the Beam narrative forward. Through pushing the frontier technology narrative, excitement is growing as more and more of our endeavours unravel itself. A new treasury report will be released in the new year.
Notes
All balances and prices are based on calculations made as of December 31st, 2025.
All investments made after December 31st, 2025 are not included in the Treasury report, unless specifically mentioned.