BOCA RATON, FL, Feb. 26, 2026 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company”), the first public company with a treasury strategy designed to accumulate and compound Solana (“SOL”), today announced a strategic investment in Apyx, a Dividend-Backed Stablecoin (DBS) protocol. DFDV participated as the first institutional capital in the project, establishing an early position in the emerging DBS category. Apyx is designed to source yield from preferred equity issued by Digital Asset Tre ...

Digital asset treasury firms gained momentum in 2025, offering investors exposure to blockchain ecosystems through corporate balance sheets rather than direct token ownership. A new entrant is now applying that model to Avalanche. In an interview with TheStreet Roundtable, Bart Smith, CEO of Avalanche Treasury Company, outlined his rationale for building a vehicle dedicated solely to AVAX. “I was a big believer in Avalanche technology,” Smith said. “It mixes the DeFi benefits of blockchains but can also ...

Core Viewpoint - Greenlane Holdings, Inc. has appointed Jason Hitchcock as its new Chief Executive Officer, effective immediately, to lead the company's strategic initiatives in digital assets and decentralized finance [1][2]. Company Overview - Greenlane is a global platform focused on the development and distribution of premium lifestyle accessories and consumer products through various retail channels and direct-to-consumer sales [9]. - The company initiated a Berachain-focused digital asset treasury strategy in October 2025, aimed at acquiring BERA and enhancing BERA-per-share through effective treasury management [9]. Leadership Background - Jason Hitchcock brings over 15 years of experience in technology and revenue growth, having previously served as Head of Business Development at thirdweb, where he developed enterprise strategies across over 150 blockchain networks [2][3]. - He has held senior roles at Twitch and Bebo, contributing to significant platform growth and was part of the founding team at Bebo [4]. Digital Asset Strategy - As CEO, Hitchcock will oversee corporate strategy, capital allocation, and operational execution, with a focus on deepening Greenlane's involvement in the Berachain ecosystem through validator operations, staking, and liquidity provisioning [7]. - Hitchcock aims to position Greenlane as the largest public holder of BERA, leveraging its treasury within Berachain's Proof of Liquidity ecosystem to maximize yield opportunities [8]. Berachain Overview - Berachain operates on a Proof of Liquidity mechanism, which incentivizes users to provide liquidity rather than locking tokens, thus creating a market-driven environment that rewards validators, liquidity providers, and stakers [10]. - The network has raised $150 million from prominent digital asset investors, indicating strong market interest and support for its innovative approach [10].

Group 1 - The debate regarding the inclusion of crypto-heavy companies in major stock indices is ongoing, with recent discussions about removing digital asset treasury (DAT) companies that allocate over 50% of their balance sheets to cryptocurrencies [1][2] - Michael Saylor's MicroStrategy, now known as Strategy, opposed the MSCI's proposal to exclude DAT firms, arguing that it was discriminatory and unworkable, ultimately remaining in the index [2] - IREN Limited, a Bitcoin-focused company, is set to be added to the MSCI USA Index, which tracks a significant portion of the U.S. equity market, enhancing its visibility among institutional investors [4] Group 2 - IREN's co-founder highlighted that the company's inclusion in the MSCI USA Index reflects its scale and liquidity, which will broaden institutional access as it shifts towards an AI Cloud strategy [5] - Originally a renewable-powered Bitcoin miner, IREN is transitioning to an AI cloud infrastructure provider, having signed a $9.7 billion GPU cloud services contract with Microsoft [6] - In Q2 2025, IREN reported revenue of $184.7 million, missing forecasts by nearly 20% due to weaker Bitcoin mining revenue, leading to an 11.45% drop in stock price after the earnings release [7]

Core Insights - Jiuzi Holdings, Inc. has entered into a Securities Purchase Agreement with strategic investment institutions, raising approximately $60 million through the subscription of 40 million ordinary shares at $1.50 per share, with the investment to be made in crypto assets [1][2]. Group 1: Strategic Funding and Partnerships - All participating investors are institutional capital providers with expertise in crypto treasury construction, digital asset risk management, and on-chain value discovery, enhancing Jiuzi's capabilities in these areas [2]. - The rapid execution of the SPA, from an initial interest of $40 million to a final agreement of $60 million in less than two weeks, indicates strong institutional recognition of Jiuzi's Digital Asset Treasury strategy and governance capabilities [8]. Group 2: Digital Asset Treasury Strategy - The execution of the SPA signifies that Jiuzi's Digital Asset Treasury (DAT) strategy has transitioned from planning to implementation, focusing on capital deployment and institutional infrastructure development [3]. - The DAT strategy aims to create a digital asset treasury system that balances long-term value appreciation with counter-cyclical resilience through systematic asset allocation and dynamic risk controls [3]. Group 3: Expected Outcomes and Enhancements - The investment will expand Jiuzi's treasury asset scale and optimize structural depth, enhancing the carrying capacity and rebalancing flexibility of its treasury under varying market conditions [4]. - Jiuzi will leverage partner institutions' technical expertise to integrate multi-chain data interfaces and accelerate the deployment of on-chain applications, providing foundational support for future financial applications [5]. - Access to global liquidity networks will improve allocation efficiency, enabling rapid conversion and strategic rebalancing of digital assets under low-slippage conditions [6]. - The execution of the SPA has facilitated the establishment of governance frameworks and scalable institutional infrastructure, creating a replicable governance architecture for larger-scale asset allocation [7].

Financial Data and Key Metrics Changes - Revenue in Q1 2026 increased more than four times to $21.4 million, compared to $4.6 million in Q1 2025 [16] - Gross margin increased significantly to 78.6% in Q1 2026, compared to 24.5% in Q1 2025 [16] - Net loss for Q1 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 2025, primarily due to a loss on digital assets [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana, with more than 99% staked, generating a staking yield between approximately 6.5% and 7.2% [12] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 at the end of December 2025, representing a growth of roughly 13% [13][14] Market Data and Key Metrics Changes - Solana continues to lead across key metrics, including decentralized exchange trading volumes, active users, and developer engagement [6] - Institutional engagement has expanded significantly, with major asset managers like WisdomTree launching tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by participating directly in economic activities occurring on-chain [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes the importance of Solana's current performance and real-world applications [6] - The company believes that the opportunity in front of Solana is increasingly clear, with a focus on long-term growth [5] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, with FWDI now issued on Solana [8] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings [9] Q&A Session Summary Question: Thoughts on recent token price volatility - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet [19][20] Question: Potential M&A framework - The company is looking for accretive businesses in both DAT and non-DAT M&A, with a focus on product market fit and scalable unit economics [23] Question: Importance of SOL per share as a KPI - SOL per share growth is considered the North Star KPI, with a target to consistently generate returns greater than the staking yield [24] Question: Capital allocation strategy in different market conditions - The company plans to be adaptive, focusing on balance sheet quality and potential M&A opportunities when trading at discounts [40][41] Question: Staking yields and network usage growth - Management clarified that increased validator participation does not impact staking yields, and they expect yields to increase as network activity grows [44][46] Question: Related party G&A expenses - Related party expenses are associated with the launch of the digital asset treasury strategy and are expected to decrease in the coming months [50]

Core Insights - Hyperliquid Strategies Inc reported its financial and operational results for the quarter and six months ended December 31, 2025, highlighting its position as a leading digital asset treasury platform focused on the Hyperliquid ecosystem [1] - The company expressed optimism about its future growth, driven by innovations and the expansion of the Hyperliquid ecosystem, despite facing unrealized losses due to market volatility [1] Financial Highlights - The company reported a net loss of $317.9 million for the six months ended December 31, 2025, primarily due to $262.4 million in unrealized losses on HYPE tokens and a one-time $35.6 million IPR&D write-off [1] - Revenue for the period included $0.9 million in interest income and $0.5 million in staking revenue from HYPE holdings [1] - As of December 31, 2025, the company had total assets of $616.7 million, including $281.9 million in cash and $327.6 million in HYPE tokens [1] Treasury Strategy Progress - The company has $125 million in remaining deployable capital, supported by a $1 billion Equity Line of Credit (ELOC) facility [1] - It has deployed $129.5 million to acquire approximately 5.0 million additional HYPE tokens, increasing total holdings to 17.6 million [1] - The company repurchased approximately 3.0 million PURR shares for $10.5 million, reducing the fully diluted share count to 150.6 million [1] Hyperliquid Ecosystem Momentum - Hyperliquid's decentralized exchange generated over $800 million in annual fees and processed billions in daily trading volumes [1] - Key growth drivers include upcoming innovations like portfolio margin and prediction markets, as well as the rapid adoption of builder codes by major platforms [1] - The company has launched over 100 real-world asset (RWA) perps, enhancing its market offerings [1]

Core Insights - Hyperliquid Strategies Inc reported financial results for the quarter and six months ended December 31, 2025, highlighting its position as a leading digital asset treasury platform focused on the Hyperliquid ecosystem [1] Financial Performance - The company experienced a net loss of $317.9 million for the six months ended December 31, 2025, primarily due to $262.4 million in unrealized losses on HYPE tokens, a one-time $35.6 million IPR&D write-off, and a $17.8 million increase in deferred tax expense [1] - Revenue generated included $0.9 million in interest income and $0.5 million in staking revenue from HYPE holdings [1] - The company reported a strong balance sheet with $589.8 million in stockholders' equity and no debt, and total assets of $616.7 million as of December 31, 2025 [1] Treasury Strategy - Hyperliquid Strategies Inc established a strong initial treasury with 12.5 million HYPE tokens and $300 million in cash contributed by investors [1] - As of February 3, 2026, the company had $125 million in remaining deployable capital and a $1 billion Equity Line of Credit (ELOC) facility [1] - The company deployed $129.5 million to acquire approximately 5.0 million additional HYPE tokens, increasing total HYPE holdings to 17.6 million [1] Ecosystem Growth - Hyperliquid's decentralized exchange generated over $800 million in annual fees and processed billions in daily trading volumes [1] - Key drivers of ecosystem growth include upcoming innovations such as portfolio margin and prediction markets, as well as explosive growth in real-world asset (RWA) perps with over 100 perps launched [1] - Rapid adoption of builder codes by major platforms is enabling permissionless front-end integrations and generating tens of millions in fees [1] Company Updates - The company plans to relaunch its website on February 11, 2026, which will include a section tracking the "Adjusted Net Asset Value" for enhanced transparency [1] - An audio webcast with Q&A is scheduled for February 11, 2026, featuring CEO David Schamis and CFO Brett Beldner [1]

Financial Data and Key Metrics Changes - For the second quarter, total revenue was approximately $8.1 million, an increase of approximately $4 million or just over 100% compared to $4 million in the prior year quarter [15] - The net loss for the quarter was approximately $178.9 million or approximately $2.94 per share, primarily driven by $164.5 million of unrealized losses on digital assets [15][16] - The company had approximately $1.6 million in cash and 2.17 million Solana tokens as of December 31st [14] Business Line Data and Key Metrics Changes - Digital asset revenue for the six months ended December 31st, 2025, was approximately $11.2 million, reflecting the addition of the digital asset treasury business [14][15] - The treasury had an unrealized loss on digital assets of approximately $86.4 million, reflective of the Solana price per token of $124.48 at December 31st, 2025 [14][16] Market Data and Key Metrics Changes - The price of Solana fell 40% during the quarter and has fallen a further 31% since the quarter end [4][5] - The spot Solana ETFs launched and have seen over $850 million of net inflows since [11] Company Strategy and Development Direction - The company aims to increase yield, hedge positions using a maturing options market, and capitalize on top opportunities created by market volatility [8] - The strategic plan includes raising capital above NAV to increase digital assets per share and issuing in-kind convertible notes at a premium to NAV [18] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the future despite challenges, citing improving fundamentals for Solana and the potential for price appreciation [5][6] - The company believes that the subsector will work through oversupply through M&A or asset sales, and anticipates multiple expansion in a bull market [7][8] Other Important Information - The company became shelf-eligible during the quarter and filed a shelf registration statement on Form S-3 with the SEC [12] - A $50 million share repurchase program was announced, adding another tool for capital management [12] Q&A Session Summary Question: Any change in terms of capital raising strategy given the pressure on Solana? - Management stated there has been no change in perspective and they continue to aim to raise capital above NAV [22] Question: How to weigh buying SOL versus keeping a reserve? - Management emphasized the importance of maintaining cash reserves during volatile periods and mentioned the potential for hedging positions as the options market matures [24][25] Question: Any updates on generating additional yield outside of staking? - Management is exploring a strategy that can generate high yield in a low-risk way, with a focus on recurring and low-risk opportunities [35]

Core Insights - The cryptocurrency market experienced significant volatility, with Bitcoin's price dropping from an all-time high of over $126,000 to below $70,000, marking a 28.6% decline over the past year [1] - MicroStrategy, the largest Bitcoin treasury company, reported a net loss of $12.4 billion in Q3 2025, with its stock down 58.82% over the last year [2] Company Overview - MicroStrategy was co-founded by Michael Saylor in 1989 as a traditional enterprise software company, but shifted focus to Bitcoin during the COVID-19 pandemic in 2020 [3] - The company has built a digital asset treasury (DAT), holding Bitcoin as a balance sheet component, similar to how traditional companies hold cash or other assets [4] Financial Position - MicroStrategy holds 714,644 Bitcoin valued at $49 million, making it the world's largest Bitcoin treasury company [5] - The company's stock has mirrored Bitcoin's volatility, experiencing significant declines as the cryptocurrency's value has dropped [5] Market Dynamics - MSCI considered removing MicroStrategy from its indices due to its substantial investment in digital assets, with over 50% of its balance sheet dedicated to Bitcoin [6] - Despite the ongoing downturn in Bitcoin's price, Saylor remains optimistic about its long-term performance, suggesting it will outperform the S&P 500 [7] Risk Management - Saylor indicated that if Bitcoin were to fall 90% over the next four years, the company would refinance its debt, suggesting a long-term strategy to manage potential risks [9] - CEO Phong Le echoed this sentiment, stating that Bitcoin would need to remain at $8,000 for 5-6 years to pose a real threat to the company's convertible debt [9]