{"id":12071,"date":"2026-08-19T08:53:14","date_gmt":"2026-08-19T08:53:14","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12071"},"modified":"2026-08-19T08:53:14","modified_gmt":"2026-08-19T08:53:14","slug":"this-solana-treasury-company-may-sell-sol-as-a-defi-loan-ties-up-more-than-half-its-treasury","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12071","title":{"rendered":"This Solana treasury company may sell SOL as a DeFi loan ties up more than half its treasury"},"content":{"rendered":"

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SOL Strategies may sell part of its Solana treasury to meet obligations, as much of its holdings remain pledged against debt.<\/p>\n

According to an SEC filing, the company said it had C$1.87 million in cash as of June 30 and that roughly C$22 million of digital assets were unencumbered and available for conversion into fiat.<\/p>\n

SOL Strategies also reported C$37.33 million of current liabilities, although those obligations are staggered and do not represent a single payment due immediately.<\/p>\n

The financial statements show those obligations include about C$3.31 million of accounts payable, a C$7.75 million HoudiniSwap acquisition note, C$784,000 owed to a vendor, a C$865,000 current acquisition holdback, C$13.90 million borrowed through DeFi protocol Kamino Finance and C$10.73 million of current convertible debentures.<\/p>\n

Their repayment schedules vary considerably. Trade payables are generally due within 30 days, while the Houdini note matures Dec. 1. A US$1.25 million Houdini acquisition holdback is split between payments nine and 18 months after the June 1 closing. Kamino carries no fixed maturity, while some debenture conversion or maturity dates extend into 2028 and 2030.<\/p>\n

\"SOL\"SOL<\/p>\n

Management said its liquidity plan includes cost reductions, revenue from staking, validators and HoudiniSwap, selective SOL sales, securities issuance and potential additional borrowing through its ATW convertible note facility.<\/p>\n

The disclosure puts greater focus on how the company finances operations while preserving a treasury of roughly 460,000 SOL worth C$48 million at quarter-end.<\/p>\n

Notably, more than half of those holdings were already tied to borrowing. SOL Strategies pledged 252,851 SOL, valued at C$26.4 million, to Kamino Finance against roughly C$13.9 million of debt.<\/p>\n

While the absence of a fixed maturity reduces immediate repayment pressure, Kamino can automatically liquidate collateral if the loan-to-value ratio reaches 75%, increasing the company’s exposure to a sharp decline in SOL.<\/p>\n

SOL Strategies said its digital assets provided roughly C$34 million of net liquidity after accounting for the Kamino borrowing. Management also said its available cash, crypto and other resources were sufficient to support operations for at least 12 months.<\/p>\n