Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

September 12, 2025

Smarter Web Company is exploring acquisitions of distressed competitors to acquire their Bitcoin holdings at discount prices.

According to a Financial Times report, the UK’s largest corporate Bitcoin holder with over £200 million in crypto reserves made the revelation despite its shares plummeting 73% from their mid-June peak.

Founder Andrew Webley told the publication that “there’s one that’s very attractive, there’s one that I’ve got my sights on at the moment,“ though he declined to name the acquisition target.

The Bristol-based firm would “certainly consider” snapping up other companies for their Bitcoin at a discount, Webley explained, as some crypto treasury companies now trade below the value of their Bitcoin holdings.

Strategic Accumulation Amid Market Turbulence

Smarter Web has undergone a dramatic transformation from its origins as a website design business, pivoting heavily toward Bitcoin accumulation throughout 2025 under what the company calls “The 10 Year Plan.”

The firm currently holds 2,470 Bitcoin worth approximately £200 million, having crossed the 2,000 BTC milestone in July after purchasing 225 additional coins for £19.9 million.

This aggressive strategy has generated what the company describes as a 49,198% year-to-date Bitcoin yield, positioning Smarter Web among the top 25 global corporate Bitcoin holders despite maintaining just £500,000 in remaining treasury cash.

The company’s accumulation efforts have been financed through innovative debt structures, including the UK’s first Bitcoin-denominated convertible bond worth $21 million issued to Paris-based TOBAM in August.

Unlike traditional convertible bonds, this structure denominates the principal repayment amount in Bitcoin while keeping the conversion share price fixed at £2.05, representing a 5% premium to the stock’s closing price at the time.

Webley acknowledged the dramatic valuation swings, telling the publication that “we probably got overvalued and now we’re almost certainly undervalued,” while expressing concern for shareholders who have experienced the volatility.

Despite the share price correction, the company briefly achieved a £1 billion market capitalization over the summer and has gained approximately 150% year-to-date, outperforming all but one company in the FTSE 350.

The firm appointed Albert Soleiman, former CFO of trading group CMC Markets, as chief financial officer last week as it pursues institutional investor interest and FTSE 100 ambitions.

UK Treasury Company Wave Meets Market Skepticism

Smarter Web’s acquisition strategy emerges within a broader wave of UK-listed companies adopting Bitcoin treasury models, with at least nine firms announcing similar strategy in recent months.

These companies have followed the playbook pioneered by Saylor’s MicroStrategy, which has accumulated over 638,460 BTC and achieved a market capitalization exceeding $90 billion since first purchasing the cryptocurrency in 2020.

The UK movement includes firms ranging from AI services provider Tao Alpha, which disclosed plans to raise £100 million for Bitcoin purchases, to natural resources company Panther Metals, whose shares surged 81% after buying a single Bitcoin.

However, market analysts have raised concerns about the sustainability and strategic clarity of the crypto treasury trend as hundreds of companies worldwide race to accumulate digital assets.

Eric Benoist, tech and data research specialist at Natixis CIB, warned that “the story is starting to become less attractive to mainstream investors,” noting that “there’s still no clear end game to this strategy.”

The broader corporate Bitcoin treasury movement has seen over 325 entities accumulate 3.71 million Bitcoin collectively, as per BitcoinTreasuries data, even though some industry observers question whether the market has reached saturation.

Galaxy Digital’s Michael Novogratz had previously suggested that the market may have reached “peak treasury company issuance,” while VanEck’s Matthew Sigel warned that companies issuing shares near their Bitcoin net asset value risk creating “erosion” rather than capital formation.

If executed well, Smarter Web’s acquisition strategy could bring a new paradigm in the space, potentially allowing successful treasury companies to consolidate Bitcoin holdings from struggling competitors at favorable valuations.

The approach mirrors historical debt-financed asset acquisition strategies, where savvy investors have borrowed in depreciating currencies to purchase scarce assets during market downturns.

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Forward Industries, known for making protective casing for medical devices, has announced a massive $1.65B private placement to go big on Solana ($SOL).

Backed by big names like Galaxy Digital and Multicoin Capital, the move shows tremendous institutional confidence in Solana’s future.

Forward Industries’ stocks shot up by 6% right after the announcement and have continued to rise steadily overall, indicating the market took it well.

With Solana looking good, now is the perfect time to look at Snorter Token ($SNORT), the Swiss-army knife you need for trading everything Solana-based.

Why the Enthusiasm? Understanding Solana’s Momentum

Why are the big players piling into Solana right now? The technical indicators could hold the answer. Solana’s price chart is showing what traders call a bull pennant pattern.

Think of it as a pause in the middle of a major run-up. The price surged over 70% from June to August, and now it’s catching its breath before a potential big move. If the pattern plays out, some analysts predict the price could hit $300 in the near term, with some even eyeing $1K down the road.

Beyond the charts, the network itself is thriving. Solana’s Total Value Locked (TVL) has skyrocketed to $12.987B, a massive 109% jump since April, driven by increased activity on popular dApps like Raydium and Jupiter.

The combo of strong technical signals and real-world growth is what makes Solana such an attractive bet for big investors and companies alike. Projects like Snorter Token ($SNORT), which amplify real-world growth by making Solana-based trading easier, can only strengthen the network.

Snorter Token ($SNORT): A New Class of Utility-First Meme Coin

Lots of tokens pop up based on a funny joke or meme, but Snorter Token ($SNORT) is a different beast. It combines meme coin vibes with advanced tools for traders.

$SNORT is the official token for the Snorter Bot, a trading bot in its beta phase built directly on Telegram. It’s not a promise of future utility; this is a token with a working product.

Holding $SNORT allows you to access various premium features that help you navigate volatile meme coin markets. These include lightning-fast sniping, copy-trading to learn from the best, and rug-pull detection to keep you safe from malicious projects.

In addition to the trading tools, you also benefit from reduced trading fees, paying 0.85% compared to 1.5% for non-holders. The incentive directly rewards platform engagement, creating sustainable demand for the token.

The Vision: Building a Community on a Foundation of Value

Snorter Token ($SNORT) has raised over $3.8M in its presale so far, which shows investors are paying attention. It’s also been professionally audited by firms like SolidProof and Coinsult, which builds trust and credibility.

$SNORT isn’t just a hype-driven meme coin; it’s the key to a set of tools designed to give retail traders the edge over bots and whales.

This is also just the beginning. The project’s roadmap points to continuous expansion and value creation. After launching on Solana and Ethereum, the team plans to expand to other major blockchains like BNB Chain and Polygon.

Time to get your nose to the ground and sniff up some $SNORT? Join the presale now.

Remember, this is not intended as financial advice, and you should always do your own research before making any financial investments.

Authored by Ben Wallis, Bitcoinist — https://bitcoinist.com/solana-rally-after-$1.68B-treasury-purchase-snorter-soars/

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

SOL Strategies CEO Leah Wald outlined how Solana-focused digital asset treasury companies can drive institutional adoption and exchange-traded fund (ETF) flows.

In an interview with CryptoSlate, Wald noted that multiple Solana treasury companies create a “rising tide” effect similar to Bitcoin miners benefiting alongside Bitcoin ETF inflows.

She noted the parallel between Bitcoin ecosystem dynamics, where miners receive inflows alongside spot and futures ETFs, suggesting similar potential for Solana-focused companies.

Wald explained:

“You’ve always seen that in the past where miners get inflows, like Bitcoin miners. ETF gets inflows alongside Bitcoin spot and Bitcoin futures ETFs get inflows.”

She described the phenomenon as retail investors choosing different products based on enthusiasm, while institutions prefer ETFs for tax advantages and custody structures.

Wald acknowledged widespread market expectations for a spot or staked spot Solana ETF under a 33 Act wrapper, viewing this development as part of a broader rising tide of product offerings.

She emphasized that treasury companies must operate respectfully to maintain industry credibility while benefiting from expanding product availability.

Bloomberg ETF analysts expect an approval in October, when most of the spot Solana ETF filings will meet their final deadline with the SEC.

DAT dynamics

Addressing concerns about digital asset treasury (DAT) company valuations, Wald acknowledged that many firms that added Bitcoin now trade at discounts to multiple of Bitcoin NAV (mNAV), including Bitcoin miners.

A Sept. 2 report by Grayscale highlighted a decreasing mNAV for DAT companies, suggesting a cooling of interest from investors.

However, she expressed confidence that SOL Strategies’ dual approach as both a technology company and treasury accumulator provides competitive advantages during market downturns.

Wald stated:

“It does not scare us. I think it positions us in a position of strength because we’re the only ones running a real business and it’s a business that continues to accumulate and compound.”

She noted that discount trading environments place pressure on management teams to execute validator business models effectively rather than relying solely on asset appreciation.

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SOL Strategies differentiates itself by calling the company “DAT plus plus,” emphasizing technology development alongside treasury accumulation.

Wald described the firm as a technology company first, with treasury accumulation as a secondary function, contrasting with purely speculative treasury models.

SOL Strategies added SOL to its treasury and started trading on Nasdaq on Sept. 9 under the ticker STKE.

Infrastructure validation

Despite being the second-largest decentralized ecosystem, with over $12 billion in total value locked, Solana still represents a small fraction of the tokenization landscape.

Institutions deployed nearly $500 million using Solana’s infrastructure, representing 3.1% of this market. In comparison, Ethereum has a 52% dominance over tokenization efforts.

Wald sees institutional treasury companies as catalysts for closing this gap through education and validation efforts.

She explained:

“I do think that any ETF, like any well-respected issuer or well-respected company, anyone that puts boots on the ground on education is only going to help Solana, the network, grow and succeed.”

She emphasized validation and adoption benefits from proper educational initiatives about Solana’s technical advantages.

Wald stressed the significant institutional interest, including BlackRock’s plans to launch a yield fund on Solana alongside existing tokenized products from Apollo and Franklin Templeton.

She listed these developments as evidence of growing institutional recognition of Solana’s capabilities for tokenization and digital asset infrastructure.

Wald concluded by positioning treasury companies as educational ambassadors for Solana’s institutional adoption journey:

“It’s on all of us out there to educate why we think that it’s better, cheaper, faster, quicker, all those different merits to get there. Hopefully, with all the DAT leaders out there providing education, it should snowball.”

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Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

September 10, 2025

SOL Strategies commenced trading on Nasdaq Global Select Market under the ticker STKE with $94 million in Solana treasury holdings.

The Canadian firm becomes the first Solana-focused public company to achieve a U.S. listing and maintains dual listings on CSE under the symbol HODL.

The Nasdaq debut follows months of preparation, including a one-for-eight share consolidation, reducing outstanding shares from 176 million to 22 million to meet exchange requirements.

Virtual Bell Ceremony Bridges Traditional Finance with Blockchain

SOL Strategies hosted an innovative on-chain bell ringing ceremony at stke.community, allowing participants to memorialize their participation through permanent Solana blockchain transaction memos.

The celebration included live X Spaces discussions featuring industry partners and company leadership.

The company operates as a “foreign private issuer” under SEC rules, exempting it from certain U.S. regulatory requirements, including proxy solicitation rules and Section 16 filings.

This status allows continued operation under Canadian governance standards without requiring a majority of independent directors.

Current capital structure includes 22 million common shares outstanding, 12 million warrants, and 5.3 million stock options following the consolidation.

The firm rebranded from Cypherpunk Holdings in September 2024, shifting focus entirely to Solana blockchain infrastructure and investment.

Now, SOL Strategies manages 3.62 million SOL under delegation, including 402,623 SOL from its treasury, valued at C$111.7 million.

Record participation includes 8,812 unique wallets staking with the firm, and Cathie Wood’s ARK Invest moving 3.6 million SOL worth approximately C$888 million to SOL Strategies infrastructure in July.

Institutional Solana Treasury Arms Race Accelerates

SOL Strategies faces increasing competition as institutions race to build massive Solana treasuries.

Forward Industries announced a $1.65 billion private placement led by Galaxy Digital, Jump Crypto, and Multicoin Capital to establish a digital asset treasury strategy centered on Solana.

Kyle Samani from Multicoin Capital will become Forward Industries Chairman following transaction completion.

Galaxy Digital contributes institutional infrastructure, including trading, lending, and staking services, while Jump Crypto provides technical expertise through initiatives like the Firedancer validator client.

DeFi Development Corporation holds 1.27 million SOL valued at $248 million after raising $122.5 million in debt financing led by Cantor Fitzgerald. The firm added nearly 292,000 SOL in recent months.

Upexi remains the largest corporate holder with over 2 million SOL worth approximately $444 million, according to CoinGecko.

Just today, QMMM Holdings reported a 1,736% stock increase after announcing plans to build $100 million crypto treasury targeting Bitcoin, Ethereum, and Solana.

The Hong Kong-based digital media firm’s “crypto-autonomous ecosystem” combines artificial intelligence with blockchain technology.

The five largest institutional holders now control over 3.7 million SOL worth $726 million, with institutional ownership representing approximately 1.55% of the total circulating supply.

Technical Analysis Points to Imminent Breakout

SOL currently trades at $216.24 within a well-defined ascending channel that has guided its advance from $152 to current levels.

Multiple horizontal resistance levels are marked at $185.78, $204.58, $209.79, $218.60, with projected targets at $245.06.

The 4-hour chart shows SOL positioned just below $218.60 resistance, testing a key breakout level following recent progress through multiple resistance zones.

The ascending trendline provides critical support around $210-212, maintaining the bullish channel structure.

Stage Theory analysis indicates SOL remains in “Stage 2 Uptrend” following an extended “Stage 1 Basing” period.

The Phantom indicator shows bullish readings despite recent consolidation, suggesting underlying momentum remains positive for continued advances.

Weekly charts confirm SOL’s position well above the 200-day moving average at $158.43, validating long-term uptrend integrity.

Notably, some analysts have discovered a”slow grind higher” pattern that shows consistent respect for ascending trendline support, indicating institutional accumulation providing floors during weakness.

This steady advance with minimal volatility often precedes explosive moves as resistance levels are overcome.

Based on technical evidence across multiple timeframes, SOL appears positioned for continued bullish momentum toward the $245 target.

The immediate focus centers on breaking decisively above $218.60 resistance, which would likely trigger momentum-based buying toward measured move objectives with support maintained around the $210 – $212 ascending trendline.

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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Last updated: 

September 9, 2025

Shares of Eightco Holdings (Nasdaq: OCTO) surged over 3,000% on Monday, following the company’s announcement of a bold move to adopt Worldcoin (WLD) as its primary treasury reserve asset.

The little-known e-commerce inventory platform revealed plans to raise $250 million through a private placement of 171.23 million common shares at $1.46 each, aiming to build a substantial position in the Sam Altman-backed crypto project.

The offering is expected to close on Thursday, with strategic participants including the World Foundation, Kraken, and FalconX.

Eightco Shares Explode 3,000% in a Day, Then Dip After Hours

Eightco shares skyrocketed from $1.45 on Friday to $45.08 at Monday’s close, a gain of 3,009%, after briefly hitting an intraday high above $80.

After-hours trading saw the stock cool slightly, dropping nearly 6% to $42.40.

The company said it may also accumulate Ethereum (ETH) as a secondary asset, but its primary focus will be on Worldcoin, the controversial iris-scan-based cryptocurrency project run by World Network, formerly known as Tools for Humanity.

Eightco also announced plans to rebrand its ticker to “ORBS” to reflect its alignment with Worldcoin’s eye-scanning Orb devices, which are used to issue World IDs as proof of personhood in an increasingly AI-driven internet.

Worldcoin, co-founded by OpenAI CEO Sam Altman, aims to verify human identity online using biometric data. In return, users receive WLD tokens and access to a growing ecosystem of services.

While the project has gained traction, it’s also faced heavy scrutiny from regulators and privacy watchdogs, resulting in restrictions and bans in multiple countries.

“If we succeed on our mission, World might become the largest network of real people online,” Altman said in a statement.

Eightco’s move places it in the growing club of public companies diversifying into crypto treasuries, following the playbook popularized by firms like MicroStrategy and BitMine Immersion Technologies, the latter of which invested $20 million into Eightco as part of its broader crypto strategy.

Dan Ives Named Chairman of Eightco Amid Worldcoin Pivot

As part of the announcement, Dan Ives, Wedbush Securities’ head of tech research, was named chairman of Eightco’s board.

Known for his bullish views on AI and disruptive technologies, Ives called the move “the next step in the AI revolution around authentication and Proof of Human.”

Meanwhile, Worldcoin has surged 49.2% in the past 24 hours, trading at $1.54, with a seven-day gain of over 80%. Despite the rally, the token remains down nearly 87% from its all-time high of $11.74 in March 2024.

As reported, Worldcoin’s digital identity system, World ID, has surpassed 100 million uses across third-party apps, marking a major milestone for Sam Altman’s identity-focused crypto initiative.

However, mounting regulatory pressure and uncertainty continue to weigh on the project, prompting a rebrand to World Network and the rollout of new identity tools like NFC passport verification, aimed at privacy-friendly onboarding.

France, Portugal, Spain, Hong Kong, and South Korea have all launched investigations into the project’s data practices.

Solana (SOL) treasury company SOL Strategies secured approval to list its common shares on the Nasdaq, according to a Sept. 5 announcement.

The company expects trading to commence on Sept. 9, under the ticker symbol “STKE” while maintaining its Canadian Securities Exchange listing under “HODL.”

Shares will no longer trade on the OTCQB Venture Market, and existing shareholders will be automatically converted to the Nasdaq listing without requiring any action.

CEO Leah Wald said:

“Joining Nasdaq aligns us with the world’s most innovative technology companies and positions us to attract institutional investors who recognize the transformative potential of Solana’s infrastructure.”

She added that the listing provides shareholders with enhanced liquidity, while giving the firm access to deeper capital markets.

SOL Strategies completed its transformation from a diversified crypto holding company to a Solana-first investment vehicle after unanimously approving the strategy shift at its shareholder meeting on July 30, 2024.

The rebranding coincided with the appointment of Wald as new CEO in early July, which accelerated the company’s accumulation of SOL tokens and ecosystem investments.

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The green light marks a significant milestone for the Toronto-based company following its strategic rebrand from Cypherpunk Holdings and pivot to Solana-focused investments.

Institutional interest in Solana treasuries grows

The approval arrives amid broader institutional interest in Solana exposure, with Galaxy Digital, Multicoin Capital, and Jump Crypto reportedly seeking approximately $1 billion to assemble the largest dedicated SOL treasury through a public company vehicle.

Cantor Fitzgerald serves as lead banker for the effort, which contemplates acquiring a listed entity to create an institutional-grade Solana treasury.

Other companies also operate SOL treasuries through public markets, including Upexi, which has holdings surpassing $100 million, and DeFi Development Corp, reporting 846,000 SOL with plans to compound via staking yields.

SOL Strategies expects the Nasdaq listing to accelerate validator growth through institutional partnerships, enhance operational scalability as demand for Solana staking increases, and strengthen its position as the leading institutional gateway to the Solana ecosystem.

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Bitcoin (BTC) treasury companies reached a record holding of 840,000 BTC in August, but underlying data reveal weakening institutional demand.

According to a Sept. 5 report by CryptoQuant, purchase volumes and transaction sizes plummeted to multi-year lows.

Strategy led corporate Bitcoin accumulation with 637,000 BTC, representing 76% of total treasury holdings. At the same time, 32 other companies control the remaining 203,000 BTC.

Holdings surged following the November 2024 US Presidential Election, with Strategy more than doubling its position from 279,000 to 637,000 BTC and other companies expanding their holdings 13-fold from 15,000 to 203,000 BTC.

Declining purchase volumes

Strategy acquired 3,700 BTC in August, down dramatically from 134,000 BTC purchased in November 2024. Other treasury companies purchased 14,800 BTC, which is below the 2025 average of 24,000 BTC and significantly lower than their June peak of 66,000 BTC.

The average Bitcoin per transaction dropped to 1,200 for Strategy and 343 for other companies, down 86% from early 2025 highs. The report attributed the smaller transaction sizes to liquidity constraints or potential market hesitation among institutional buyers.

Monthly holdings growth decelerated sharply for Strategy, falling from 44% in December 2024 to just 5% in August. Other treasury companies experienced similar patterns, with monthly growth dropping from 163% in March to 8% in August.

Despite recording 53 purchase transactions in June and maintaining elevated activity through August with 46 transactions, the frequency masks declining institutional appetite. Treasury companies completed only 14 transactions in November 2024, making current levels appear robust by comparison.

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The report focused on pure-play, publicly-traded Bitcoin treasury companies holding 1,000 BTC or more, excluding mining companies and firms with substantial operating businesses like Tesla and Coinbase.

Regulatory and market pressures mount

The treasury market faces new regulatory headwinds as Nasdaq implements shareholder approval requirements for equity issuances used to purchase crypto.

The rule change targets the crypto-treasury playbook, where public companies sell equity or convertibles to fund token purchases. As a result, this change could slow the rapid capital deployment that characterized 2025.

In addition, Sequans Communications became the first Bitcoin treasury company to execute a reverse stock split, adjusting its American Depositary Shares structure to maintain NYSE listing requirements.

The company controls 3,205 BTC, valued at approximately $355 million, but its stock declined 75% this year, raising concerns about potential asset sales to defend share prices.

The report concluded by revealing patterns similar to the 2020-2021 cycle, when Strategy’s holdings growth peaked at 78% before declining to 6% a year later. The current setup suggests institutional Bitcoin accumulation may be entering a similar deceleration phase.

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StablecoinX and TLGY Acquisition have secured an additional $530 million in financing to buy digital assets, bringing total commitments to $890 million ahead of a planned merger and Nasdaq listing.

The combined company, to be renamed StablecoinX Inc., is set to hold more than 3 billion ENA, the native token of the Ethena protocol. According to the company, it will be the first dedicated treasury business for the Ethena ecosystem, which issues the USDe and USDtb stablecoins.

The capital was raised through a private investment in public equity (PIPE) transaction, which allows public companies to raise capital by selling discounted shares to institutional investors.

New investors in the company include YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading, as well as returning backers Dragonfly, ParaFi Capital, Maven11, Kingsway, Mirana and Haun Ventures. 

The PIPE deal was priced at $10 per share, with part of the proceeds allocated to discounted locked ENA purchased from a foundation subsidiary.

“The additional funding strengthens ecosystem resilience, deepens ENA liquidity, and supports the sustainable growth of USDe, USDtb, and future Ethena products,” Marc Piano, director at the Ethena Foundation, said in a statement.

The announcement follows a July 21 disclosure that outlined TLGY and StablecoinX’s proposed merger, an initial $360 million PIPE financing, and a $260 million ENA buyback program.

Related: Race for global stablecoin rails heats up with Stripe, Fireblocks launches 

Ethena stablecoin is setting records

Launched in early 2024 by Ethena Labs, the Ethena protocol issues synthetic dollar stablecoins such as USDe and USDtb, which are backed by a delta-neutral hedging model rather than traditional reserves.

The project is overseen by the Switzerland-based Ethena Foundation, which is responsible for governance and ecosystem development.

According to Binance Research’s September report, USDe became the fastest stablecoin to surpass $10 billion in supply, reaching $12.6 billion as of September. The report noted that the milestone came in under ten months, compared with about 88 months for Tether’s USDT and 38 months for Circle’s USDC. 

Token Terminal data shows USDe supply has grown 31% in the past month, making Ethena the third-largest stablecoin issuer behind Tether and Circle.

Ethena has also generated over $500 million in cumulative revenue as of August, recently exceeding $13 million in weekly protocol earnings.

Binance Research attributed the increase to higher demand for USDe and returns from the project’s hedging model, which captures yield from crypto markets to maintain the stablecoin’s peg.

It also noted that Ethena’s fiat-backed stablecoin, USDtb, is being developed with a pathway to compliance under the recently enacted US GENIUS Act, which US President Donald Trump signed into law on July 18.

Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears

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