PANews reported on January 8 that according to The Block, Canadian listed company Sol Strategies announced on Monday that it would invest 25 million Canadian dollars in the Solana ecosystem through an unsecured credit line. This is the company's latest move to transform into one of Solana's largest pledgers and ecosystem participants. According to the announcement, the annual interest rate of this unsecured revolving credit line is 5%, calculated daily. Wald said that the financing plan provides the most favorable structure for shareholders. The company has withdrawn US$4 million in principal and plans to use the remaining funds for large-scale purchases of Solana tokens to support pledge operations and acquisitions. The entire credit line can be used before January 6, 2027.
Previously, the company was called Cypherpunk Holdings and had invested extensively in the crypto industry. It later hired Leah Wald as CEO in July this year and shifted its focus to the Solana ecosystem. In order to concentrate resources, Sol Strategies sold a number of investments, including its second largest holding, Animoca Brands, and invested directly in SOL tokens and Solana validator nodes. As of December 31, 2024, Sol Strategies had pledged more than 1.5 million SOL tokens (worth approximately $450 million Canadian dollars) through its validator node operations, including 140,000 SOLs held by the company.
