Once upon a time in the mysterious land of money and magic, SOL Strategies (CSE: HODL) pulled a rabbit out of their crypto hat. After teaming up with the mysterious ATW Partners for a whopping $500 million deal, their shares leapt by 25.27% — which is a fancy way of saying they went ka-boom to CAD 2.28 ($1.64), according to the Googly Finance folks.
Now, this wasn’t some wobbly walk in the digital park. SOL Strategies decided to stake every shiny Solana token they snagged on their own special magic machines called validator nodes. With a wild promise of up to 85% in staking rewards, they plan to pay back ATW in the very tokens they’re wrangling. Imagine paying your debts in dragon gold rather than boring old coins!
“Our spellbook says interest on these shiny Notes will come straight from our stash of SOL, up to 85% of the loot earned by staking the Solana treasure,” chortled Leah Wald, the grand wizardess (CEO) of SOL Strategies.
But wait, here’s the kicker: ATW can turn their mysterious notes into actual shares at market price — no forms, no endless waiting lines, and definitely no bureaucratic goblins (hello, SEC and Canadian regulators). Meanwhile, Cohen & Company snagged a neat 4% fee on the first $20 million chunk. Pretty neat handshake, right?
Once known as Cypherpunk Holdings (a name that sounds like a comic book villain), SOL Strategies switched gears last year to bet everything on the bright and speedy Solana. By March, they’d collected a hoard of 267,151 SOL tokens — and now, with this colossal deal, that pile could explode like a fireworks show on a witch’s birthday.
Even Galaxy Digital, the heavy-hitter of crypto space, was caught sneakily trading over $100 million of ETH for SOL, as revealed by digital crystal balls (aka on-chain data from Lookonchain).
Solana itself has been tearing up the charts like a caffeinated squirrel, climbing 28% in just two weeks and flirting with a $150 price tag. Its bargain basement fees and lightning-fast speeds have wooed memecoins, DeFi wizards, and now, the serious money folk.
While SOL Strategies hinted they might dance their way onto the Nasdaq stage someday, they weren’t promising to spend the whole $500 million spellbindingly soon. But the market’s loud cheers say one thing: this Solana strategy is no fairy tale—it’s turning into an epic saga.
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2025-04-24 11:06