DeFi Development Corp. approves CHAD preferred stock repurchase plan, Solana treasury increases to 2.56 million SOLs

DeFi Development Corp., listed on NASDAQ, has approved a CHAD preferred stock repurchase plan aimed at maintaining its stock price and supporting its SOL increase strategy. The company's primary goal is to bring CHAD back to its $10 face value, and this authorization adds capital allocation tools to the existing $300 million CHAD ATM. The company has paid CHAD's first dividend on October 1st, and the NAV per share in the third quarter has more than doubled. Solana's treasury has increased to 2.56 million SOLs in the past week. (Source: The Block)