Canadian investment firm Sol Strategies has secured CAD $25 million in an unsecured, revolving credit line to boost its investment in Solana's SOL token.
Strategic Move to Strengthen Solana’s Staking Operations
On January 7, 2025, Sol Strategies announced the drawdown of part of its newly amended credit facility, extended by the chairman, Antanas Guoga. The funding will enhance its SOL holdings to strengthen staking operations, aiming to become one of Solana's largest validators. CEO Leah Wald is steering the company towards an exclusive focus on Solana.
Flexible Financing for Expansion
The credit line, with a 5% annual interest rate, allows Sol Strategies to continue its investment strategy. The company has already used $4 million of the line, planning further significant SOL token purchases.
Rebranding and Focus on Solana
In late 2024, Cypherpunk Holdings rebranded to Sol Strategies, focusing solely on the Solana blockchain. Led by Wald, the company sold non-core assets to reinvest in Solana and its ecosystem, aiming to become a key player in DeFi and NFTs.
Sol Strategies is actively expanding its activities in the Solana ecosystem, aiming to become a major network participant and considering a Nasdaq listing for increased capital access.
