When XRP Treasury Strategy Play? Pundit Questions As Solana Secures $500 Million Investment
Ripple’s XRP continues to be one of the most talked-about assets in the cryptosphere, not just because of the lengthy lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), but also due to its role in the cross-border payments sector.
However, while cryptocurrencies like Bitcoin (BTC) and Solana have become part of public companies’ treasury reserves, Ripple-affiliated XRP is yet to gain traction as a treasury asset.
Solana Corporate Adoption Accelerates
Toronto-listed investment firm SOL Strategies has secured a $500 million convertible note facility to buy Solana, the company said in a Wednesday press release, reflecting the growing institutional interest in the sixth-largest cryptocurrency.
The capital will be used solely for acquiring more SOL and expanding the company’s blockchain validator operations.
The deal, made with New York-based investment firm ATW Partners, is said to be a first-of-its-kind and the largest financing facility in the Solana ecosystem, according to the announcement.
“We are doubling down on our conviction in Solana and our commitment to being the leading institutional staking platform,” said SOL Strategies CEO Lead Wald.
Solana has gained traction with investors and developers alike because it’s a low-cost and much faster alternative to Ethereum, the network behind the second-largest crypto, ether.
Commenting on the news of SOL Strategies’ $500 million raise to buy more SOL tokens, Dom Kwok, Co-founder of EasyA Labs, asked how long it will take before the crypto community sees a company pursue an XRP-focused crypto treasury strategy that seeks to accumulate the payments coin.
Besides SOL Strategies, publicly traded real estate tech firm DeFi Development Corporation (formerly known as Janover) made another Solana purchase earlier this week, adding a further 88,164 SOL. That purchase lifted its total stash to 251,842 SOL.
XRP As A Strategic Treasury Asset
Ripple, the San Francisco-based company behind XRP, has been stuck in a closely watched, years-long legal tussle with the US Securities and Exchange Commission. Ripple was hit with a lawsuit by the SEC in late 2020, dubbing XRP a “$1.3 billion unregistered securities offering.”
Although many companies steered clear of XRP due to the lawsuit, the SEC and Ripple recently reached an agreement to end the case. The SEC will retain $50 million of the previously imposed $125 million fine — funds already held in an escrow account — and return the rest to Ripple.
The conclusion signals that the regulatory clouds surrounding XRP have cleared. As ZyCrypto previously reported, Ripple CEO Brad Garlinghouse anticipates the launch of a spot XRP exchange-traded fund (ETF) by the end of 2025, following the resolution of the lawsuit. XRP is also expected to be part of the White House’s proposed digital asset stockpile, as per an initiative formalized by President Donald Trump’s March executive order.
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When XRP Treasury Strategy Play? Pundit Questions As Solana Secures $500 Million Investment
Ripple’s XRP continues to be one of the most talked-about assets in the cryptosphere, not just because of the lengthy lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), but also due to its role in the cross-border payments sector.
However, while cryptocurrencies like Bitcoin (BTC) and Solana have become part of public companies’ treasury reserves, Ripple-affiliated XRP is yet to gain traction as a treasury asset.
Solana Corporate Adoption Accelerates
Toronto-listed investment firm SOL Strategies has secured a $500 million convertible note facility to buy Solana, the company said in a Wednesday press release, reflecting the growing institutional interest in the sixth-largest cryptocurrency.
The capital will be used solely for acquiring more SOL and expanding the company’s blockchain validator operations.
The deal, made with New York-based investment firm ATW Partners, is said to be a first-of-its-kind and the largest financing facility in the Solana ecosystem, according to the announcement.
“We are doubling down on our conviction in Solana and our commitment to being the leading institutional staking platform,” said SOL Strategies CEO Lead Wald.
Solana has gained traction with investors and developers alike because it’s a low-cost and much faster alternative to Ethereum, the network behind the second-largest crypto, ether.
Commenting on the news of SOL Strategies’ $500 million raise to buy more SOL tokens, Dom Kwok, Co-founder of EasyA Labs, asked how long it will take before the crypto community sees a company pursue an XRP-focused crypto treasury strategy that seeks to accumulate the payments coin.
Besides SOL Strategies, publicly traded real estate tech firm DeFi Development Corporation (formerly known as Janover) made another Solana purchase earlier this week, adding a further 88,164 SOL. That purchase lifted its total stash to 251,842 SOL.
XRP As A Strategic Treasury Asset
Ripple, the San Francisco-based company behind XRP, has been stuck in a closely watched, years-long legal tussle with the US Securities and Exchange Commission. Ripple was hit with a lawsuit by the SEC in late 2020, dubbing XRP a “$1.3 billion unregistered securities offering.”
Although many companies steered clear of XRP due to the lawsuit, the SEC and Ripple recently reached an agreement to end the case. The SEC will retain $50 million of the previously imposed $125 million fine — funds already held in an escrow account — and return the rest to Ripple.
The conclusion signals that the regulatory clouds surrounding XRP have cleared. As ZyCrypto previously reported, Ripple CEO Brad Garlinghouse anticipates the launch of a spot XRP exchange-traded fund (ETF) by the end of 2025, following the resolution of the lawsuit. XRP is also expected to be part of the White House’s proposed digital asset stockpile, as per an initiative formalized by President Donald Trump’s March executive order.
Read More