DeFi Development Corp, which holds Solana’s SOL token as treasury asset, reported a $27.287 million second-quarter loss, reversing a $21.194 million gain a year earlier. The company repurchased $3.5 million of convertible-note principal for $2.3 million, a roughly 35% discount, while issuing approximately 478,000 shares for $1.4 million to cover operating costs. It also shut its Treasury Accelerator program to new transactions and cut operating expenses by 22.6% year over year. As of August 12, DFDV held 2,311,523 SOL with total debt equal to 216% of its market capitalization.
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