According to Blockworks, Toronto-based holding company Cypherpunk Holdings has rebranded to Sol Strategies, shifting its investment focus to the Solana blockchain ecosystem. The company announced that it will now concentrate on staking Solana and investing in projects and infrastructure within the Solana ecosystem. This strategic pivot was unanimously approved by the company's board of directors during a shareholder meeting on July 30. Cypherpunk Holdings has been increasing its Solana exposure for several months, particularly since Leah Wald, the former CEO of Valkyrie, took over as CEO in early July. As of March 31, the company held no SOL tokens. However, by July 16, a week after Wald's appointment, Cypherpunk had acquired 63,000 SOL. By August 1, two days after finalizing its strategy shift, the company held 86,300 SOL, valued at approximately $11.6 million at current prices. The rebranding to Sol Strategies marks a significant move, as the company will now operate a Solana validator node through a third-party service provider. The company, which has been involved in the cryptocurrency space since 2018, is traded on the Canadian Securities Exchange and the OTC market. Wald emphasized that the strategy shift was not predetermined when she assumed the CEO role, but rather a logical step given Solana's high-growth potential. Wald explained that Sol Strategies aims to offer more than just passive exposure to Solana. Unlike traditional ETFs, which are passive spot funds, Sol Strategies will actively engage in staking and strategic investments within the Solana ecosystem. This approach aims to provide investors with regulated exposure to the price of SOL, staking rewards, validator revenue, and the success of Solana-based projects. In March 2024, Cypherpunk Holdings reported approximately $23 million in assets. Wald, who has been a board member since 2021, believes that Sol Strategies can differentiate itself from larger competitors by focusing on a specific niche within the regulated investment space. As the only publicly traded company in North America focused on the Solana ecosystem, Sol Strategies aims to provide exposure to Solana's growth and innovation ahead of the approval of Solana-specific ETFs in the US or Canada.

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons. source: https://www.theblock.co/post/316246/the-daily-etoro-settles-with-sec-grayscale-launches-new-xrp-trust-standard-chartered-predicts-bitcoin-new-all-time-high-by-year-end-and-more?utm_source=rss&utm_medium=rss

One of the world’s leading crypto fund managers, Grayscale, on Thursday, announced its plans to launch a closed-end XRP trust in the US, seeking to allow accredited investors to buy shares that track the price of the XRP token. The new Grayscale XRP Trust could potentially lay the ground for an XRP-based exchange-traded fund (ETF) […] source: https://zycrypto.com/xrp-price-readies-for-next-parabolic-rally-as-grayscale-debuts-xrp-trust-clearing-the-way-for-possible-etf/

Pump.fun is “stale” traders believe as the protocol fails to keep more than 100 tokens above a $1 million market cap. source: https://decrypt.co/249107/fewer-than-100-pump-fun-tokens-above-1m-market-cap-amid-meme-coin-lull

Three lawmakers accused Gensler of hiring employees based on their political affiliations, which if true, could be violating the law. source: https://www.theblock.co/post/316247/republican-lawmakers-probe-sec-chair-gary-gensler-over-alleged-political-hiring-practices?utm_source=rss&utm_medium=rss

Holders of popular Solana meme coin Bonk ($BONK) are turning their attention to a new meme coin ICO after the low-utility meme coin posted notable depreciation recently. Bonk rose 2% overnight to hit $0.00001702, putting its intraday performance roughly in line with the trillion cap market leader Bitcoin ($BTC), which rose 2.2% overnight and trades […] source: https://cryptonews.com/news/bonk-holders-turn-their-attention-to-a-new-ico-could-this-be-the-next-big-move/

The UK Ministry of Justice has introduced a bill to sharpen crypto regulations and define digital assets. source: https://dailycoin.com/new-uk-bill-aims-to-define-cryptos-legal-framework/?utm_source=cryptopanic&utm_medium=rss

With a new $12 million fundraising round, the renewable energy company aims to reward customers for supporting the power grid. source: https://decrypt.co/248985/fuse-plugs-solana-token-energy-distribution-depin-play

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin swapped a significant sum of ETH to deposit into a DeFi protocol, with traders predicting a bright future for it. source: https://www.benzinga.com/markets/cryptocurrency/24/09/40839780/ethereum-co-founder-vitalik-buterin-invests-ethereum-proceeds-into-aave-but-trader-says-no?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

According to BlockBeats, on September 13, Mantle ecosystem's leading meme token project, Puff, announced the successful upgrade to LayerZero's Omnichain Fungible Token (OFT) protocol to achieve cross-chain interoperability. The project has now deployed a liquidity pool on the Ethereum mainnet.

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