Heritage Distilling (ticker CASK), supposedly the first public company to build out a treasury reserve for the Story Protocol’s native IP token, is up nearly 20% on Tuesday after the company clarified its crypto strategy.
According to an announcement on Tuesday, the firm is about to begin its “first of many steps” in executing a previously announced “IP Strategy.” This includes launching a Treasury Dashboard to provide visibility and analytics into its IP holdings, outstanding shares, and net asset valuation.
The firm also disclosed several high-profile additions, including B2 Capital’s Phil Blows, who will serve as chief investment officer, as well as potential board members, including former Google executive David Lee and former CoinMarketCap CEO Erick Zhang.
In August, Heritage closed $220 million in private investment in public equity (PIPE) financing to fund its IP purchases. Notable backers included a16z crypto, Arrington Capital, dao5, Hashed, Polychain Capital, and Selini Capital, among others, with Cantor Fitzgerald and Roth Capital Partners serving as placement agents.
IP rose 31% over the past 24 hours to an all-time high of $11.66, according to The Block’s data, changing hands for $11.20.
Story is an intellectual property-focused Layer 1 that seeks to provide remuneration to content creators during the age of AI. The project, launched on mainnet in February, has raised $136 million from the likes of a16z crypto, Polychain, and Samsung Ventures.
The project recently made waves after co-founder and CPO Jason Zhao disclosed that he was stepping down from the project, reportedly close to a token vesting period.
In July, Grayscale announced it would launch a new single-asset trust offering exposure to IP.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
