Solana
DeFi Development Corp Expands Solana Treasury With Three-Million-Dollar Purchase
The asset manager added 26,203 SOL to lift its treasury to 2.56 million tokens, even as its weekly rate of accumulation moderated.
Nasdaq-listed DeFi Development Corp added 26,202 SOL worth approximately $3 million between September 28 and October 2, according to an 8-K filing with the SEC. The purchase raised the company's total treasury to 2,564,212 SOL and Solana equivalents, representing a valuation of roughly $302 million and a 1 percent increase over the prior week's holdings.
The rate of acquisition has slowed over recent reporting periods. The company added 47,706 SOL during the previous week and 101,381 SOL in the week ending September 18. Despite the reduced weekly volume, Chief Executive Joseph Onorati stated that the firm has expanded its treasury assets by 11 percent since August 12.
Operating as a digital asset treasury company, the firm also runs its own network validators to generate staking rewards and provide equity investors with magnified exposure to Solana. Capital for token purchases is partially raised through the issuance of CHAD preferred shares, which carry a $10 stated value and paid an initial annual dividend rate of 13 percent on October 1.
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