DeFi Development Corp. increases its stake in SOL to 2.3889 million and sets up a $300 million CHAD issuance plan

DeFi Development Corp. has purchased 55491 new SOLs, bringing the total SOL reserves to approximately 2.3889 million. The company has established a CHAD on exchange issuance plan with a maximum size of 300 million US dollars. CHAD is its Series C perpetual preferred stock, with an expected issuance price of no less than $10 per share face value. The net proceeds from the issuance will mainly be used to increase holdings of SOL. CEO Joseph Onoratti stated that this plan provides the structural foundation for expanding CHAD into a new growth engine.