Overview

• DeFi Development Corp. bought 196,141 SOL at an average $202.76, lifting its holdings to about 2,027,817 SOL valued near $427 million.
• Each share now represents roughly 0.0793 SOL, or about $16.70 of Solana exposure, with management noting the ratio should stay above 0.0675 even if warrants lift shares outstanding to about 31.4 million.
• The company plans to stake its SOL across multiple validators, including its own nodes, to earn native yield.
• Tracked corporate treasuries total about 8.28 million SOL across 13 firms, with the top three controlling over 70%, as managers including Pantera and Galaxy-linked groups are reported to be preparing billion-dollar Solana vehicles.
• Galaxy, via Superstate, tokenized SEC-registered shares on Solana, and DFDV shares were reported down 7.6% to $15.21 following the update alongside reports of heightened Nasdaq scrutiny of such strategies.