New Solana treasury eyes raising over $400 million with help from ParaFi and Pantera
Quick Take Small-cap medical device firm Sharps Technology said it’s raising over $400 million to create the “largest” Solana digital asset treasury (DAT). The company hopes to close the transaction by Aug. 28.
Small-cap medical device firm Sharps Technology Inc. (ticker STSS), said on Monday its aiming to raise over $400 million to stockpile Solana. Its private placement is expected to close on Aug. 28.
The company aims to become the "largest Solana digital asset treasury," according to a statement .
"The offering consists of an over $400 million private investment in public equity transaction (PIPE) for the purchase and sale of common stock," the company said. Sharps Technology listed several participating investors including ParaFi Capital and Pantera Capital.
Sharp Technology's pivot to become a digital asset treasury (DAT) focused on Solana's native token puts it alongside firms like Upexi and DeFi Development Corp , which hold $370 million and $199 million worth for SOL, respectively, as of Monday, according to The Block Data Dashboard . The company also joins the ranks of several other small-cap Nasdaq stocks shifting to a DAT strategy.
The company's shares rose nearly 70% on Monday, according to Yahoo Finance .
Solana ecosystem
"Global adoption of Solana's ecosystem is accelerating as it continues to receive institutional support for its vision of a single global market for every tradeable asset, making now the right time to establish a digital asset treasury strategy with SOL," Sharp Technology's newly-appointed Chief Investment Officer Alice Zhang said. "We will have a team with deep ties to the Solana ecosystem and proven founder-level experience in scaling institutional digital asset platforms, which we believe will set the Company up for success."
Zhang previously co-founded Avalon Capital, which specializes in digital assets and technology. She is also the co-founder of Jambo, "the first web3 phone with a built-in decentralized app store," according to a statement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Book of Meme (BOME): A High-Potential Meme Coin with a Strategic Presale and ROI Catalysts
- BOME's 2024 presale and community fund strategy drove a 36,000% price surge, showcasing meme-driven crypto ROI potential. - Despite an 85% retracement to $0.0021, analysts highlight BOME's Arweave/IPFS integration and Bitcoin inscriptions as future growth catalysts. - However, 50% token concentration in early investors and lack of governance pose dumping risks, categorizing BOME as high-risk speculative asset.
Celebrity-Backed Memecoins: A Systemic Threat to Retail Investors
- Celebrity-backed memecoins prioritize insider gains over public value, creating volatile markets with liquidity traps and artificial price collapses. - Tokens like YZY (70-94% insider allocation) and TRUMP (80% insider control) exemplify centralized tokenomics enabling rapid price manipulation and wealth concentration. - Regulatory ambiguity allows enforcement gaps, as seen in Kim Kardashian's $1.26M fine for undisclosed promotion, while self-paired liquidity pools facilitate insider exploitation. - Acad
Aave's Horizon: Strategic Infrastructure for Capital Efficiency in the $26B+ RWA Market
- Aave Horizon bridges TradFi and DeFi by enabling institutions to borrow stablecoins against tokenized RWAs like U.S. Treasuries and real estate. - The hybrid model combines permissioned compliance checks with permissionless lending, addressing institutional barriers like legal risk and operational complexity. - Partnerships with Centrifuge and Superstate expand access to $1B+ in tokenized assets, while Chainlink oracles ensure real-time NAV tracking and risk management. - This infrastructure could unlock
Silver's Silent Revolution: Contrarian Signals in the Shares Silver Trust (SLV) Suggest a Strategic Entry Point for 2025
- The Shares Silver Trust (SLV) emerges as a strategic entry point for contrarian investors in 2025, driven by undervalued silver fundamentals and structural supply-demand imbalances. - Weakening U.S. dollar, industrial demand surges (10% annual solar-driven growth), and a record 87.9 gold-silver ratio signal potential for a sharp silver rebound. - Oversold technical indicators (RSI 24.84, golden cross) and $3.61B 3-month inflows highlight shifting investor sentiment toward silver’s dual role as industrial
Trending news
MoreCrypto prices
More
