StablecoinX restructured $6.879M of defaulted SPAC debt with just ~$344K in cash, shifting the other 95% into warrants. The tradeoff: near-term liquidity pressure drops sharply, but the warrants could represent ~7.62M shares—about 31.7% of current Class A stock if exercised. https://cryptoslate.com/nasdaq-listed-crypto-treasury-avoids-cash-drain-by-pushing-millions-in-defaulted-spac-debt-onto-future-equity/(CryptoSlate)