On Friday, DeFi Development Corp made a significant move in the cryptocurrency market by acquiring 196,141 SOL tokens at an average price of $202.76 each. This latest acquisition represents an 11% increase over its previous purchase, raising the company’s total holdings to 2,027,817 SOL tokens. With this strategic investment, DeFi Development’s treasury reaches approximately $427 million, positioning it as the leading company executing a treasury strategy specifically focused on accumulating and compounding Solana assets.
DeFi Development has stated intentions to hold the newly acquired tokens for the long term, with plans to stake them across various validators, including its own Solana validators, in order to generate yield. Notably, the latest figures do not account for any prepaid warrants resulting from a recent equity financing move. Currently, the adjusted share count stands at about 31.4 million, which includes warrants from the latest transaction. The firm mentioned that it would provide updates reflecting its Solana per share (SPS) metric, which currently stands at 0.0793, equating to a USD value of $16.70 based on approximately 25,573,702 outstanding shares.
In a strategic move for expansion, DeFi Development recently announced plans to launch a new venture, DFDV UK, set to operate in the United Kingdom. This initiative will be formed through the acquisition of Cykel, in which DeFi Development holds approximately a 45% equity stake. The firm expects this new venture will provide additional opportunities for SPS growth going forward. The Chief Executive Officer of DeFi Development Corp emphasized that the launch of DFDV UK marks a crucial milestone in their global growth strategy, reinforcing their commitment to enhance the Solana ecosystem.
Following the latest acquisition, DeFi Development shares experienced a downturn of 7.59% during Thursday’s trading session, closing at $15.21, although they edged up nearly 1% after hours to $15.36. This acquisition has helped DeFi Development take the lead as the top Solana treasury firm, surpassing Upexi, which currently holds around 2,000,518 SOL tokens. Upexi recently exceeded the 2 million SOL threshold on August 5 after boosting its capital raising efforts, achieving a 172% growth in its SOL balance sheet, now valued at about $334 million.
As the interest in digital treasury programs continues to grow, Nasdaq has ramped up its oversight on companies engaging in cryptocurrency activities. Reports indicate that Nasdaq is now requiring shareholder votes for certain transactions and demanding increased disclosures from companies engaged in digital asset fundraising. According to data from the crypto advisory firm Architect Partners, around 154 U.S.-listed companies are preparing for a capital raise totaling $98.4 billion to invest in digital assets, with only 10 companies having raised approximately $33.6 billion prior to 2025.
Most of the crypto treasury firms involved in these activities are publicly listed on the Nasdaq, including DeFi Development Corp, along with other notable players like Michael Saylor’s Strategy and Tom Lee’s Bitmine Immersion. As the landscape evolves, the increasing regulatory scrutiny signals a transforming environment for companies heavily invested in cryptocurrencies.
