Funding
DFDV Acquires SOL through Buybacks
DeFi Development Corp, a Nasdaq-listed Solana piggy bank, has added approximately 22,070 SOL and 'SOL equivalents' to its treasury, bringing its total to about 2,586,282 tokens worth around $287 million. Weekly purchases have decreased, from 101,381 SOL in mid-September (worth around $11.4 million) to 47,706 ($5.8 million) and then 26,202 ($3.1 million). The company, which previously held about 2.59 million SOL, has authorized buybacks for whenever CHAD trades under its $10 par value. CEO Joseph Onorati stated that the company's conviction in accumulating SOL remains unchanged, despite short-term volatility. The company's main asset, CHAD, a perpetual preferred stock, hit an all-time high of $10.00, and the company is authorized to buy back shares when CHAD trades below its $10 par value. The company's common stock traded near $4.41 on Monday, with a market value of about $140 million, roughly half the value of its SOL holdings. The company's treasury company sector is under pressure due to the fact that the company's main asset trades below its crypto stash, making share purchases to buy tokens no longer sensible.