Treasure DAO Extends USDC Funding Amid Financial Challenges

According to Foresight News, Treasure DAO has extended its USDC funding chain until the fall of 2026, excluding the recovering MAGICMAGIC treasury bonds. More details will be revealed in the quarterly report on Monday. Previously, Foresight News reported that Treasure DAO's chief contributor, John, announced in a video that the organization is facing restructuring due to deteriorating financial conditions, leading to the termination of game operations and the Treasure Chain. Currently, Treasure DAO's annual operating expenses amount to $8.3 million, while the treasury holds only $2.4 million, which is expected to sustain operations only until July 2025. To extend the funding chain, John proposed withdrawing $785,000 of idle funds from market maker Flowdesk. If approved, the stablecoin balance would increase to $3.2 million, potentially extending operations until February 2026. Additionally, the Treasure DAO ecosystem fund holds 22.3 million MAGIC tokens, valued at approximately $2.3 million. However, if the MAGIC token price plummets, the DAO may struggle to continue operations between December this year and February next year.