Sol Strategies Recovers Funds from FTX and Announces Increase in SOL Holdings and Staking Revenue
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has recovered approximately CAD $825,450 (US $611,494) from FTX's bankruptcy proceedings, representing a 122% premium on their original US$500,000 investment. The company has also increased its Solana holdings to 100,763.0230 SOL (valued at $20.8 million), up from 86,294.0575 SOL in July 2024.
Since June 14, 2024, Sol Strategies has generated gross revenue of 1,430 SOL ($282,910) from staking, with a gross profit of $266,680. The company currently holds 56.2406 bitcoin (valued at approximately $4.8 million) and has $1,795,000 in cash. Additionally, Sol Strategies maintains private equity/venture capital investments with a book value of about $442,000.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha recuperato circa CAD $825,450 (US $611,494) dai procedimenti fallimentari di FTX, rappresentando un premio del 122% sul loro investimento originale di US$500,000. L'azienda ha anche aumentato le sue partecipazioni in Solana a 100,763.0230 SOL (valutato $20.8 milioni), rispetto ai 86,294.0575 SOL di luglio 2024.
Dal 14 giugno 2024, Sol Strategies ha generato un fatturato lordo di 1,430 SOL ($282,910) da staking, con un profitto lordo di $266,680. Attualmente l'azienda detiene 56.2406 bitcoin (valutati circa $4.8 milioni) e ha $1,795,000 in contante. Inoltre, Sol Strategies mantiene investimenti in private equity/venture capital con un valore contabile di circa $442,000.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha recuperado aproximadamente CAD $825,450 (US $611,494) de los procedimientos de quiebra de FTX, lo que representa una prima del 122% sobre su inversión original de US$500,000. La compañía también ha incrementado sus participaciones en Solana a 100,763.0230 SOL (valoradas en $20.8 millones), en comparación con los 86,294.0575 SOL en julio de 2024.
Desde el 14 de junio de 2024, Sol Strategies ha generado ingresos brutos de 1,430 SOL ($282,910) del staking, con una ganancia bruta de $266,680. Actualmente, la empresa posee 56.2406 bitcoin (valorados en aproximadamente $4.8 millones) y tiene $1,795,000 en efectivo. Además, Sol Strategies mantiene inversiones en capital privado/riesgo con un valor contable de aproximadamente $442,000.
솔 전략 회사(Sol Strategies Inc.) (CSE: HODL) (OTC Pink: CYFRF)는 FTX의 파산 절차에서 약 825,450 캐나다 달러 (미국 달러 611,494)을 회수했습니다, 이는 원래의 미국 달러 500,000 투자에 대해 122%의 프리미엄을 의미합니다. 회사는 솔라나 보유량을 100,763.0230 SOL (약 2,080만 달러 평가)으로 늘렸으며, 이는 2024년 7월의 86,294.0575 SOL에서 증가한 수치입니다.
2024년 6월 14일 이후로, 솔 전략 회사는 스테이킹을 통해 1,430 SOL (약 282,910 달러)의 총 수익을 창출했습니다, 총 이익은 266,680 달러입니다. 현재 회사는 56.2406 비트코인 (약 480만 달러로 평가)과 179만 5천 달러의 현금을 보유하고 있습니다. 또한 솔 전략 회사는 약 442,000 달러의 장부 가치를 가진 사모펀드/벤처 자본 투자도 유지하고 있습니다.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) a récupéré environ 825 450 CAD (611 494 USD) des procédures de faillite de FTX, représentant une prime de 122% sur leur investissement initial de 500 000 USD. La société a également augmenté ses avoirs en Solana à 100 763,0230 SOL (évalués à 20,8 millions de dollars), contre 86 294,0575 SOL en juillet 2024.
Depuis le 14 juin 2024, Sol Strategies a généré un chiffre d'affaires brut de 1 430 SOL (282 910 USD) grâce au staking, avec un bénéfice brut de 266 680 USD. L'entreprise détient actuellement 56,2406 bitcoins (d'une valeur d'environ 4,8 millions de dollars) et dispose de 1 795 000 dollars en espèces. De plus, Sol Strategies maintient des investissements en capital-investissement/ capital-risque d'une valeur comptable d'environ 442 000 dollars.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) hat ungefähr CAD $825,450 (US $611,494) aus den Insolvenzverfahren von FTX zurückgewonnen, was eine 122% Prämie auf ihr ursprüngliches Investment von US$500,000 darstellt. Das Unternehmen hat auch seine Solana-Bestände auf 100,763.0230 SOL erhöht (im Wert von 20,8 Millionen Dollar), verglichen mit 86,294.0575 SOL im Juli 2024.
Seit dem 14. Juni 2024 hat Sol Strategies brutto Einnahmen von 1,430 SOL (282,910 Dollar) aus Staking generiert, mit einem Bruttogewinn von 266,680 Dollar. Das Unternehmen hält derzeit 56.2406 Bitcoin (im Wert von etwa 4,8 Millionen Dollar) und hat 1.795.000 Dollar in bar. Darüber hinaus verwaltet Sol Strategies private Equity/Venture-Capital-Investitionen mit einem Buchwert von etwa 442.000 Dollar.
- Recovery of CAD $825,450 (US $611,494) from FTX bankruptcy proceedings, representing a 122% premium on original investment
- Increase in Solana holdings to 100,763.0230 SOL, valued at $20.8 million
- Generation of 1,430 SOL ($282,910) in gross revenue from staking, with $266,680 gross profit
- Holdings of 56.2406 bitcoin valued at approximately $4.8 million
- Cash reserves of $1,795,000
- None.
Toronto, Ontario--(Newsfile Corp. - October 3, 2024) - Sol Strategies Inc., (CSE: HODL) (OTC Pink: CYFRF) (formerly, Cypherpunk Holdings Inc., "Sol Strategies" or the "Company"), a Canadian company focused on blockchain investments, today announced the recovery of approximately CAD
In addition to the recovered claim, Sol Strategies has increased its Solana investment holdings since its previous public update detailing its investment portfolio and financial activities.
- Solana Holdings Increase: The Company has increased its SOL holdings to 100,763.0230 SOL (
$20.8 million (1)), which are currently held in Coinbase custody, including SOL used for staking. The average acquisition price of this SOL is approximately US$142.43 , excluding commission and staking costs. As of July 31, 2024, the Company's last financial update, Sol Strategies' held 86,294.0575 SOL ($21.6 million ). - Solana Staking Revenue: The Company has generated gross revenue of 1,430 SOL (
$282,910) from staking, with a gross profit of$266,680 , since commencing staking on June 14, 2024. - Bitcoin: The Company currently holds 56.2406 bitcoin in Coinbase custody, valued at approximately
$4.8 million (1). - Cash: As of the date hereof, the Company has approximately
$1,795,000 in cash. - Other Investments: The Company holds private equity/venture capital investments with a book value of approximately
$442,000.
(1) Based on closing prices and foreign exchange rates on September 30th, 2024.
Leah Wald, CEO of Sol Strategies, commented: "The recovery of the claim is a welcome addition to our available funds and underscores Sol Strategies' commitment to maintaining a solid financial foundation. Coupled with our increased SOL holdings, these recovered assets are expected to be allocated within the Solana ecosystem."
About Sol Strategies
Sol Strategies is a publicly traded company committed to the continued development of the blockchain and cryptocurrency ecosystem through its activities in the private equity and financial markets and its support for related technology innovation. Through its investments, the Company offers its shareholders exposure to Solana through its direct investing and staking activities. By staking "SOL", Solana's native token, and potential future investments in Solana-based projects and infrastructure, the Company seeks to benefit from the potential growth of Solana and its other investments to drive value for its shareholders, including those seeking to avoid the complexities of managing cryptocurrency assets directly. Sol Strategies' mission is to lead the Solana ecosystem by generating a strong revenue stream through staking rewards and investing in emerging, high-potential Solana-based projects and infrastructure. To learn more about taking a stake in Sol Strategies' future, please visit our website at www.solstrategies.io. A copy of this news release and all material documents in respect of the Company may be obtained under the Company's SEDAR+ profile at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".
Forward-looking statements in this news release include statements regarding the company's future investing plans and strategies, the growth of Solana, and the Company's investments. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the "Foundation"), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.
None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with the respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.
Officer/Director Contact:
Doug Harris
Chief Financial Officer
doug@solstrategies.io
Tel: 416-480-2488
SOURCE: Sol Strategies Inc.
Media contact: solstrategies@mgroupsc.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225460
FAQ
How much did Sol Strategies (CYFRF) recover from the FTX bankruptcy proceedings?
What is the current Solana (SOL) holdings of Sol Strategies (CYFRF) as of October 3, 2024?
How much revenue has Sol Strategies (CYFRF) generated from Solana staking since June 14, 2024?
What is the current Bitcoin holdings of Sol Strategies (CYFRF) as of October 3, 2024?
