SOL Strategies To Raise Up To $1bn For The Development Of The Solana Ecosystem.
The Canadian company SOL Strategies submitted a preliminary prospectus that gives it the right to raise up to $1 billion through various instruments. The funds raised are intended for purchasing Solana (SOL) and launching network validators.
This move follows similar capital raising efforts in the crypto market, including a $425 million PIPE for Ethereum (ETH) and a $2.5 billion mix of debt and equity financing for Bitcoin (BTC).
CEO Leah Wald emphasized the strategic nature of the move, stating, “This filing ensures we are positioned to act decisively when the right opportunities present themselves. Our belief in the long-term viability and scalability of Solana drives our strategy.”
Musk’s xAI Pencils $300mn Deal With Telegram For Grok Integration
Elon Musk’s artificial intelligence company xAI has “agreed in principle“ to integrate its AI chatbot Grok across Telegram, says the messaging platform’s CEO, Pavel Durov.
Durov said in a May 28 X post that he and Musk agreed to a one-year partnership for Telegram to distribute Grok across Telegram and integrate it into its apps.
As part of the agreement, Telegram will receive $300 million in cash and equity from Musk’s AI company, in addition to 50% of revenue from xAI subscriptions sold via Telegram, the CEO noted.
VivoPower Raises $121mn to Launch XRP Treasury Strategy.
VivoPower International, a Nasdaq-listed energy company, said it has entered into agreement for a $121 million private share placement to fund its pivot to digital asset treasury focusing on XRP, the fourth largest cryptocurrency by market capitalization.
The fundraising was led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, chairman of Eleventh Holding Company, investing $100 million. The company intends to sell 20 million ordinary shares priced at $6.05 per share, according to a Wednesday SEC filing.
VivoPower aims to be the first publicly-traded firm with XRP treasury strategy, amid a soaring trend of firms adding digital assets to their treasuries.
The Blockchain Group Secures $71.9mn to Fuel Bitcoin Acquisition.
The Blockchain Group (ALTBG), a Paris-listed firm focused on data intelligence and decentralized technologies, has issued a $71.9 million in convertible bonds to further its bitcoin treasury strategy.
A key component of the deal includes a $5.7 million BTC-denominated bond subscribed by Moonlight Capital, issued at a 30% premium over the May 23 closing price of $4.3/share
Notably, investor Adam Back has converted all his OCA Tranche 1 bonds into 14.88 million shares, reinforcing long-term alignment with the company’s vision.
These capital inflows are expected to fund the acquisition of 590 BTC, potentially increasing The Blockchain Group’s holdings to approximately 1,437 BTC.
Conduit Raises $36mn For Stablecoin, Fiat Cross-Border Payment Network.
Conduit, a cross-border payments company based in Boston, has raised $36 million in a Series A funding round led by Dragonfly and Altos Ventures. The capital will go to scale its payment system and expand currency offerings across fiat and stablecoins.
Conduit claims its platform offers a modern alternative, enabling near real-time cross-border settlements by combining stablecoins with local fiat currencies through crypto infrastructure.
Additional participants in the funding round include Sound Ventures, Commerce Ventures, DCG, Circle Ventures, and two previous investors, Helios Digital Ventures and Portage Ventures.
Conduit claims its clients have saved more than 60,000 hours in settlement times and over $55 million in fees since launching in 2021.
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