Upexi, a consumer goods company with emerging digital asset interests, has announced the establishment of a new advisory committee focused on expanding its presence in the Solana network.
Formation of the Advisory Committee
Upexi, based in Tampa, announced the creation of a new advisory committee aimed at increasing the company's footprint within the Solana network. This decision was announced on Tuesday. The committee's key objectives will include developing strategies and attracting capital to manage the company's treasury in Solana.
Arthur Hayes' Role in the Committee
The first member of the advisory committee is Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom. Hayes brings extensive expertise in digital assets and institutional finance. Upexi's CEO Allan Marshall noted that Hayes' experience and reputation make him the ideal candidate for this role.
Upexi's Strategy in the Solana Ecosystem
According to recent reports, Upexi holds approximately 1.9 million SOL tokens and is actively working to increase its market share in Solana. The company has also entered into a $500 million equity line of credit agreement with Alliance Global Partners, enabling it to sell common stock primarily to acquire more SOL and for general corporate needs.
In conclusion, the formation of the advisory committee and the engagement of experienced professionals like Arthur Hayes highlight Upexi's ambitious approach to growth within the Solana ecosystem. New committee members and initiatives are expected to be announced in the upcoming weeks.
