The post Shares of Solana treasury firm Upexi tanks 60% appeared on BitcoinEthereumNews.com.

Upexi shares, trading under the UPXI ticker, took a beating as the U.S. market opened on Tuesday after investors registered 43.85 million shares for resale — stock equal to the company’s initial float in April, which was set aside to fund its Solana treasury plans. The shares have fallen by about 60%, but a prospectus filed on Monday shows that there is more offloading to be done, as buyers have signaled they want to offload 35.97 million common shares plus 7.89 million shares tied to pre-funded warrants. UPXI stocks are down ~60% as markets opened on Tuesday, June 24. Source: Google Finance Upexi will not profit from the share sales The prospectus filed on Monday states that Upexi will collect only $7,890 if holders exercise the warrants and take home from the share sales. “We are not selling any shares of Common Stock in this offering, and we will not receive any proceeds from the sale of shares by the Selling Stockholders,” documents sent to the U.S. Securities and Exchange Commission (SEC) read. The Florida-based e-commerce startup made headlines in the past for raising $100 million after outlining a plan to establish a corporate Solana treasury, hoping it would mirror the success from Strategy’s Bitcoin playbook. 🚨 NEW: Upexi CEO says the company is doubling down on crypto “With the change in Administration, it seemed like there was an opportunity in crypto after a lot of headwinds.” Full quote from @theflynews 👇 pic.twitter.com/B96XUL1Tmt — Upexi (@UpexiTreasury) June 5, 2025 The company purchased its first set of Solana coins on April 29, a total of 45,733 tokens, a few days after completing its public fundraising effort, and one month later, its holdings had reached 679,677 SOL following multiple purchases of discounted vested coins. Investment bank Cantor Fitzgerald shared a $16 price…

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Filed under: News - @ June 24, 2025 7:29 pm