DeFi Development Corp. (DFDV), a company managing Solana’s corporate treasury, has secured a $5 billion equity line of credit to accelerate its accumulation of Solana (SOL) tokens.
DeFi Development Corp. (DFDV), a company managing Solana’s corporate treasury, has secured a $5 billion equity line of credit to accelerate its accumulation of Solana (SOL) tokens. The move aims to maximize the metric SPS (Sol per Share), reflecting the company’s strategy to increase its holdings of SOL.
Following the announcement, DFDV’s stock price surged 22% to $32, valuing the company at approximately $500 million. This funding arrangement underscores DFDV’s commitment to expanding its SOL treasury position amid growing market interest.
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Source: https://thedefiant.io/news/tradfi-and-fintech/defi-development-corp-secures-5-billion-equity-line-to-boost-solana-accumulation-21d08938