Publicly traded company Sol Strategies receives $25 million credit line to invest in SOL and pledge businesses

Publicly traded Sol Strategies (ticker: CYFRF, HODL.CN) announced on Monday that it will invest $25 million in the Solana ecosystem through an unsecured credit facility. The unsecured revolving credit facility will accrue interest at an annual rate of 5% and accrue daily. Sol Strategies has drawn down $4 million in principal and plans to use "the remaining funds to purchase Solana tokens on a large scale to support its staking operations and acquisitions." According to the statement, it must use the entire amount by January 6, 2027. The company, headquartered in Toronto, is the latest move by Cypherpunk Holdings to become one of the major Solana stakers and ecosystem participants after the rebranding. Last July, Cypherpunk Holdings hired Leah Wald as CEO to begin focusing on the Solana ecosystem. The company has sold several investments, including a stake in Animoca Brands, which was previously its second-largest holding after Bitcoin, and has also invested directly in SOL and Solana validators. As of December 31, 2024, Sol Strategies has staked more than 1.5 million SOL (worth about $450 million CAD) in its validator operations. This includes more than 140,000 SOL owned by the company. In December, the company announced it was seeking a Nasdaq listing. From the time Wald became CEO to the end of last year, the price of HODL rose by more than 2,000%. (The Block)