Founders

$100M Solana bet – DeFi Development plans MicroStrategy-style crypto move | Solana (SOL) has gained significant interest from crypto corporate treasury firms, particularly after DeFi Development announced a $100 million convertible note offering on July 1 to expand its SOL holdings. The offering may increase to $125 million, with proceeds intended for acquiring more SOL and supporting corporate growth. DeFi Development, which pivoted to a crypto treasury strategy after being acquired by former Kraken employees, currently holds 621,313 SOL tokens. Meanwhile, Canadian SOL Strategies increased its holdings by 163,000 SOL in June, bringing its total to 3.7 million staked SOL. The approval of the first U.S. spot ETF with staking provisions could enhance SOL staking momentum.