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2h ago

Fitell Buys 216.8 Million PUMP Tokens for $1.5 Million in Accelerated Solana Pivot

The purchase broadens the treasury into memecoins, signaling a recast around the Solana ecosystem.

Fitell Corp adds 216.8M PUMP worth $1.5M to its treasury expanding within Solana

Overview

  • Fitell said it executed the PUMP acquisition on Oct. 1 and confirmed the deal in an Oct. 2 press release.
  • CEO Sam Lu described the move as a swift decision-to-execution step to deepen participation in Solana and diversify the company’s digital asset holdings.
  • The buy follows a $100 million financing facility announced in late September to build a Solana-focused treasury.
  • The company plans to rebrand as Solana Australia Corporation, pursue a dual ASX listing, and deploy on-chain strategies such as options and liquidity provisioning to generate yield.
  • PUMP is the native token of the Pump.fun memecoin launchpad on Solana, with crypto.news reporting it recently traded near $0.007 after a 30-day gain of more than 92%.