Sol Strategies [CSE:HODL], the Canadian-listed blockchain investment vehicle, said this month it has recovered over USD 611,000 in the form of USDC from the Lucy Labs Flagship Offshore Fund. This is part of the bankruptcy proceedings being held in the wake of the collapse of FTX Trading.
It is good news for Sol Strategies shareholders, as the amount represents a premium of 122% on the company’s original investment. It has previously been written off in December 2022 following the collapse of FTX.
Sol Strategies, which previously traded as Cypherpunk Holdings, has also increased its holdings in Solana to USD 20.8m. These are currently being held in custody with Coinbase. Sol Strategies said the average acquisition price was USD 142.43, excluding coverage.
Leah Wald, CEO of Sol Strategies, said that the recovered assets would also be allocated within the Solana eco-system.
Sol Strategies is a publicly traded Canadian company which…
