Q2 2025 Transparency Report

Announcements Reporting
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Q2 Transparency Report

Regen Financial is pleased to present Treasure’s 2025 Q2 financial review. The report takes a deep dive into the financials and performance from April 2025 to June 2025 as well as the DAOs performance in Q2 2025 compared to Q1 2025. We also show annual numbers and charts where appropriate to build context.

:magnifying_glass_tilted_left: Read the full report here: Q2 2025 Transparency Report

The report aims to provide the TreasureDAO community with greater visibility into the current state of the DAOs operations and financials and a snapshot of recent developments and highlights. This will allow TreasureDAO community members to identify the best ways to contribute to the Treasure ecosystem and analyse its sustainability.

Key Financial Highlights include:
Treasury

  • Current Treasury holdings total $7.2M, which is largely composed of MAGIC and Stablecoin Holdings

  • Stablecoins make up 39.43% of the total (market value) treasury holdings.

MAGIC Update

  • Q1 saw the MAGIC token undergo a pronounced depreciation, reflecting broader market pressures and internal challenges. Following this decline, MAGIC began to stabilize, ultimately closing the first half of the year at approximately $0.12, indicating a significant reduction in market value compared to the start of the year.

Expenses

  • Total expenses excluding realized gains and losses amounted to $1,596,022 in the current quarter (Q1: $2,713,240), which equates to a 41% decrease from the prior quarter.

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We invite all stakeholders to review this financial report in detail. We hope this report sparks good discussion and we welcome feedback, questions, and continued discussion as we build a more resilient and thriving economy together.

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Sharing a response to user named Nobel from the Discord.

Response to Q1 vs Q2 Comparative Figures:

Hi Nobel, thank you for raising this and for the detailed comparison. We appreciate the opportunity to clarify.

Overview:
The Q1 comparative figures reflected in the Q2 management report differ from those originally presented in the standalone Q1 report due to refinements in the subledger accounts used to recognise realised gains and losses on crypto transactions and write off’s of historical liquidity positions.

During the Q2 reporting cycle, we implemented an improved subledger mapping approach that more accurately captures the nature and flow of crypto activity. Our crypto subledger is dynamic, realised gains and losses are calculated based on transaction completeness and the valuation methodology applied at the time.

A key driver behind these updates was the launch of Treasure Chain, which introduced several pricing and tracking complexities due to the integration of new chain-native assets into our subledger system. This necessitated additional reconciliation to ensure an accurate financial reflection of on-chain activity.

The original Q1 report used the best available configuration at the time. However, as part of ongoing improvements to our accounting framework, we refined the underlying account structure, which triggered a full recalculation of prior period transactions for improved consistency and accuracy.

Total Assets Adjustment:
Total assets as at 31 March 2025 decreased from $15.92M (in the Q1 report) to $13.07M (in the Q2 comparative). This reduction was primarily driven by a revaluation of liquidity positions held in MAGIC, following a decline in the token’s market price.

This adjustment was recognised as at 31 December 2024 to ensure appropriate alignment of opening balances and comparability across periods.

Reclassifications:
There were also reclassifications within the P&L, particularly between consulting and payroll expense lines, to better reflect the true nature of costs. These updates are part of a broader initiative to enhance the consistency and transparency of our reporting framework.

Ongoing Improvements:
We are continually refining our financial processes to adapt to the evolving complexity of our ecosystem particularly following the launch of Treasure Chain, and subsequent sunsetting which has caused a number of pricing and revaluation issues. As such, each transparency report reflects the most complete data and accurate methodologies available at the time of publication.

Disclaimer:

This response is based on figures presented in the Q2 transparency report, which was prepared solely for the use of the Treasure Technology Foundation and its community members. Regen Financial relied on unaudited financial and non-financial data provided by Treasure-related entities. No assurance is expressed regarding the accuracy or completeness of the information presented. Please refer to the full disclaimer and basis of preparation included in the transparency report for further context.