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Crypto Trends

SOL Strategies Files $1B Shelf Prospectus to Boost Solana Investment ‘Flexibility’

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In brief

  • SOL Strategies filed a $1 billion preliminary base shelf prospectus to expand its capital-raising options.
  • The filing gives the company flexibility to issue various securities over time, including shares and debt.
  • No immediate offerings are planned, but the move positions SOL Strategies to act quickly on Solana-related opportunities.

SOL Strategies, a Canadian public company focused on the Solana blockchain, has filed a $1 billion preliminary short-form base shelf prospectus as it doubles down on its investments in the world’s sixth-largest crypto.

The company said the move aims to provide it with increased “financial flexibility” to capitalize on emerging opportunities within the Solana ecosystem, according to a filing on Tuesday.

In other words, the move will allow SOL Strategies to prepare for potential capital raises, allowing it to move quickly on investment opportunities in the Solana ecosystem without delay due to additional regulatory approvals.

The document was submitted to securities regulators in all Canadian provinces and territories, and once finalized, will permit the company to make offerings of a variety of instruments, including common shares, debt securities, warrants, and subscription receipts.

“The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem,” Leah Wald, CEO of SOL Strategies, wrote in a statement. 

The company also stated that it has no current plans to issue securities under the prospectus and may ultimately decide not to do so.

“This strategic move enhances our ability to act decisively when compelling investment opportunities present themselves,” Wald added.

SOL Strategies, formerly known as Cypherpunk Holdings, specializes in investing in and providing infrastructure for the Solana blockchain. 

Traded on the Canadian Securities Exchange under the ticker HODL, the company aims to fuel the development of decentralized applications and services that leverage Solana’s high-speed, low-cost network.

The company said there are currently no immediate plans to issue securities under the new shelf prospectus, but it allows SOL Strategies to respond swiftly should investment opportunities arise.

The move follows SOL Strategies’ April announcement that it had secured a $500 million convertible note to fund additional Solana purchases.

Solana remains one of the top digital assets, with a valuation of roughly $89.8 billion. The asset is trading down slightly on the day to $172.29, CoinGecko data shows.

Edited by Sebastian Sinclair

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Zoom CEO Eric Yuan's AI avatar
Product Reviews

Zoom’s Eric Yuan becomes second CEO to use AI avatar on important investment call, ahead of the platform’s new custom avatar addon release

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With AI being on the lips of almost every CEO, it makes some sort of poetic sense that the lips of every CEO may soon be AI. In a recent earnings call, Zoom CEO Eric Yuan, used his AI avatar to address those tuned in. The avatar replaced the usual camera footage of Yuan talking to a webcam, with a slightly surreal generated video of, well exactly that. The result is a fairly realistic looking version of Yuan matched to his voice to deliver the earnings report in his stead.

“I am proud to be among the first CEOs to use an avatar in an earnings call,” says the slightly off face of Yuan that almost looks like the eyes were stuck on. “It is just one example of how Zoom is pushing the boundaries of communication and collaboration. At the same time, we know trust and security are essential. We take AI-generated content seriously and have built in strong safeguards to prevent misuse, protect user identity, and ensure avatars are used responsibly.”

You can get a look at the video here, and Yuan shows up at just over the two-and-a-half minute mark.

TechCrunch notes Yuan isn’t the first CEO to use an AI generated avatar like this, as we’ve seen Klarna CEO also show up in avatar form to address investors. This could be the new trend in AI generated CEOs, or at least that’s what Zoom is hoping for.


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It marks the start of a roll out for Zooms new custom AI avatar feature which should start showing up in an update this week. In the case of this earings call, Yuan’s avatar was shown via Zoom Clips, the company’s asynchronous video creation tool, but it looks like the company is hoping to make it an even easier process for everyone to access.

The goal here is for users to have the ability to create a sort of digital twin to use during Zoom calls or for presentations. But after watching the CEO’s example, I’m not really sure they’re quite there yet. It still hits slightly in the uncanny valley, and really seems to ushering in a dystopian feeling workplace where no one is real. It also brings up questions of who owns these images and their mannerisms, along with what kind of power consumption is ultimately required.

Furthermore, this feels like the kind of thing that would have got me sacked from just about every office style job I’ve ever had. Using an AI to replace myself so I don’t have to show up to the meeting that should have been an email sounds exactly like something I would do, and then be reprimanded for once caught. But when a CEO does it, well, then that’s ok.

It does, however, feel like a pretty useful tool to have on those days where you just aren’t feeling up to it. Got a wicked pimple or a bad hair day going on? Fine deploy the avatar instead. But it also means it just got that little bit harder to know exactly who you’re talking to online is who they say they are. Be careful out there, and use your avatars responsibly, and not for your court cases.



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NFT Gaming

Ex-NFL Star Tom Brady Returns to Crypto With Investment in AI Startup

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In brief

  • Catena Labs raised $18M from a16z, Coinbase Ventures, Circle, and Tom Brady, among others.
  • The startup is building AI-native finance rails for autonomous agents using stablecoins.
  • Brady’s crypto comeback follows his losses in the FTX collapse and lawsuits that marred his post-NFL life.

Tom Brady is making a cautious but deliberate return to crypto. 

This time, he’s backing Catena Labs, a Boston-based startup aiming to build what it’s positioning as the world’s first AI-native financial institution, according to a report by Front Office Sports.

Catena’s pitch is rooted in the idea of agentic commerce: autonomous AI agents that transact on users’ behalf.

Co-founded by Circle’s Sean Neville, best known for co-creating the USDC stablecoin, Catena emerged from stealth with $18 million in seed funding led by Andreessen Horowitz’s crypto division, a16zcrypto.

The funding round also saw support from Circle Ventures, Coinbase Ventures, Stanford Engineering VF, and Breyer Capital, as well as notable angel investors, including Balaji Srinivasan, Bradley Horowitz, and Kevin Lin, among others.

The project is building “an AI-native financial institution” that would “give AI agents, and the businesses and consumers they serve, the ability to transact safely and efficiently,” Neville said in a statement released last week.

Catena plans to use regulated stablecoins like USDC to power AI-driven transactions alongside traditional payment rails.

Catena Labs launched the Agent Commerce Kit, an open-source tool designed to help AI systems verify their identity and make payments independently, following its move out of stealth last week.

The firm contends that existing financial systems, from supply chain automation to retail shopping, are not equipped for AI-native interactions.

With Brady’s endorsement and backing from some crypto’s most elite firms, it’s staking a big claim at the intersection of AI, finance, and infrastructure.

Second half

In his prime, Brady played as a quarterback in the NFL and was widely considered one of the greatest of all time, winning seven Super Bowl titles over a 23-season career with the New England Patriots and Tampa Bay Buccaneers.

Brady’s earlier dive into crypto came through FTX, the now-defunct exchange whose 2022 collapse erased billions in customer funds and sent the industry into a tailspin for over a year.

Serving as a paid brand ambassador, Brady endorsed the platform through television commercials and events, earning as much as $30 million in company equity, which later lost its value following prosecutors’ discovery that FTX had misappropriated customer assets to offset trading losses.

The fallout left Brady entangled in a class-action lawsuit and marked one of the highest-profile celebrity endorsements gone wrong. Earlier this month, Brady was cleared in the FTX lawsuit.

Prior to Catena, Brady co-founded NFT platform Autograph, which raised $200 million before pivoting from NFTs to focus on digital collectibles.

Edited by Sebastian Sinclair

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