Leah Wald's Firm Acquires Four Validators from Solana for Almost $18 Million
Leah Wald's investment firm, Sol Strategies, has made a substantial investment by acquiring four validators from the Solana network, highlighting growing investor interest in the platform.
Sol Strategies (HODL), a crypto investment firm led by Leah Wald, acquired four validators for nearly $18 million in cash and shares.
The Toronto-based firm, previously Cypherpunk Holdings, will purchase validators from Cogent Crypto, a validator in the Solana ecosystem. The total investment value is close to $18 million, split into three parts: $1 million in cash, about $1 million in shares at the deal's closing, and the remaining amount distributed in shares over three years.
The firm will acquire validators for Solana (SOL), Sui (SUI), Monad (MONAD), and ARCH, chiefly focusing on SOL. Validators are entities that process transactions and maintain the security of proof-of-stake blockchains.
Sol Strategies has invested in digital assets for several years, transitioning its focus to Solana after hiring Leah Wald to enable investors to benefit from staking rewards and Solana projects. The company holds about 130 million SOL, valued at approximately C$32.2 million ($22.9 million).
The Solana network's institutional appeal is growing, with major firms such as Franklin Templeton, Citibank, and Société Générale announcing new projects leveraging Solana during last September's Breakpoint conference.
"This acquisition will significantly enhance Sol Strategies' staking capabilities, which is key to Solana’s reputation as a blockchain for both institutional and decentralized applications," stated Leah Wald.
The shares of Sol Strategies surged over 900% this year, while Solana's value rose 113%, according to TradingView data.
