Sol Strategies , a crypto investment firm led by Leah Wald, the former boss and co-founder of Valkyrie Investments, bought four validators for nearly $18 million in cash and shares.
The Toronto-based firm, formerly known as Cypherpunk Holdings, will buy the validators from Cogent Crypto, a high-performance validator operating within the Solana ecosystem, according to a statement on Thursday. The total value of the investment is nearly $18 million, broken into three tranches: $1 million cash and about $1 million in company shares at the closing of the deal, and the rest distributed over three years in shares, Sol Strategies said.
Sol Strategies has been actively investing in the digital assets sector for several years and has various investments, including Animoca Brands. The company shifted its strategy from just investing in digital assets to Solana after hiring Leah Wald to provide investors with exposure to indirectly participate in staking rewards and Solana-based projects. The company recently said it holds about 130 million SOL, worth C$32.2 million .
The shares of the investment firm rose more than 900% this year, while Solana rose 113%, according to TradingView data.. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation.