Shares of Upexi fell sharply on Tuesday after the company filed to raise up to $1 billion, a move aimed at boosting its Solana treasury and supporting other token-related initiatives.
Key points to remember:
- Upexi shares fell after the company filed to raise up to $1 billion to boost its Solana treasury.
- The company holds 2.1 million SOL worth about $262 million, but has suspended purchases amid a broader market downturn.
- Solana’s price decline has reduced the value of Upexi’s treasure by more than half from its peak.
The stock closed 7.5% lower at $1.84 after the filing, although it recovered some ground after hours, rising 4.3% to $1.92, according to Google Finance data.
In a registration statement filed with the U.S. Securities and Exchange Commission, Upexi said the offering could include common and preferred stock, debt securities, warrants and units issued over time.
Upexi pivots to Solana treasury strategy with $262 million in SOL securities
The company said the profits would be used for general corporate purposes, with a primary focus on accumulating Solana and staking tokens to generate additional yield.
Upexi currently holds 2.1 million SOL valued at approximately $262.3 million, making it the fourth largest Solana corporate treasury, according to CoinGecko.
The company adopted its Solana-focused strategy in late April, moving away from its previous consumer products and e-commerce businesses.
However, Upexi has not increased its holdings in Solana since July 23, reflecting a broader slowdown in corporate crypto treasury purchases in the second half of 2025.
The pullback comes as digital asset prices have fallen and investor confidence in treasury-based crypto strategies has weakened.
The value of Upexi’s Solana holdings has fallen sharply alongside the token’s price. At its peak in mid-September, the company’s SOL cash was valued at approximately $525 million.
At current prices, that figure has more than halved, leaving Upexi with an estimated paper loss of around 19%.
Solana was trading at nearly $123.75 at the time of writing, down 57.5% from its all-time high of $293.31 set in January 2025, according to CoinGecko data.
The filing highlights the risks facing companies that have closely tied their balance sheets to volatile digital assets, even as some continue to pursue aggressive accumulation strategies in anticipation of a market rebound.
Solana ignores one of the largest DDoS attacks ever recorded
As noted, Solana successfully withstood a massive distributed denial of service (DDoS) attack that peaked at nearly 6 terabits per second, ranking among the largest ever recorded on the Internet.
The attack, which lasted more than a week, did not disrupt network activity, with Solana continuing to process transactions normally and maintaining sub-second confirmation times, according to data shared by SolanaFloor.
The incident places Solana alongside major centralized infrastructure providers such as Google Cloud, Cloudflare and AWS, which have already faced DDoS attacks on a record scale.
Despite the scale of traffic, Solana’s validators and core infrastructure absorbed the load without performance degradation, highlighting improvements in network resilience compared to previous periods of congestion and outages.
The article Upexi Shares Slide After $1 Billion Deposit to Expand Solana Treasury appeared first on Cryptonews.
