Sol Strategies secures $25m credit facility to buy SOL
Jan 10, 2025
Dogecoin
On Jan. 7, Sol Strategies, formerly Cypherpunk Holdings Inc., stated in a press release that it had drawn from an amended credit facility agreement with the company’s chairman and director, Antanas Guoga. The agreement provides CAD $25 million (about $17.4 million) in an unsecured, revolving credit facility that Sol Strategies will exclusively use to buy Solana tokens.
The company disclosed that it had already drawn $4 million from the facility and plans to use the remaining funds for SOL purchases, support for its staking operations, and key acquisitions. Sol Strategies is targeting opportunities across decentralized finance, validator operations, and liquidity provision.
Guoga reiterated this strategy in a post on X, noting that the company will leverage the facility to grow its business. This includes expanding its SOL holdings, acquiring more validators, and securing liquidity to tap into other opportunities.
Sol Strategies’ chief executive officer, Leah Wald, also commented on the agreement, highlighting that the company evaluated other financing options before settling on this facility.
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