Canadian blockchain firm Cypherpunk Holdings has rebranded, adopting the brand new title Sol Methods because it focuses its funding technique on Solana.
The Toronto-based agency introduced on Sept. 12 that Sol Methods displays its determination to spend money on Solana (SOL), together with by way of staking and initiatives constructed on the blockchain community.
Cypherpunk Holdings, now Sol Methods, launched its operations in 2018 and is publicly listed on the Canadian Securities Trade. The corporate additionally trades on the OTC market.
Cypherpunk Holdings amongst first publicly-traded firms to carry Bitcoin
Sol Methods is among the many first publicly-traded firms to spend money on Bitcoin (BTC). The bear market nonetheless noticed Cypherpunk Holdings liquidate its BTC and ETH holdings.
Its enterprise additionally concerned enterprise capital and personal fairness investments, with these milestones achieved at a time when the crypto house had no exchange-traded funds.
With the board of administrators and shareholders approving the rebrand on July 30, 2024, the primary focus will now be on the Solana ecosystem.
Leah Wald, chief government officer of Sol Methods, famous in a press release that the pivot will enable the corporate to capitalize on Solana’s progress potential.
“Transitioning to Sol Methods signifies our strategic evolution for the Firm as we concentrate on unlocking Solana for public markets and driving worth for our shareholders.”
Leah Wald, CEO, Sol Methods
Sol Methods Solana holdings
Sol Methods, previously Cypherpunk Holdings, appointed Leah Wald as its chief government and president in July 2024. Wald is a crypto trade veteran whose expertise contains serving as the previous CEO of digital asset administration agency Valkyrie.
The corporate’s SOL holdings have elevated considerably since Wald’s appointment and after the shareholder vote to rebrand. Notably, the agency held no Solana as of March 31, 2024.
By July 16, it held over 63,000 SOL in Coinbase custody, which elevated to over 86,290 SOL by July 31, 2024.
Based on the most recent replace on the finish of July, Sol Methods acquired its Solana at a median worth of $143. SOL at the moment trades round $135, struggling for upside since dropping from above $200 in April.
