Tech company Sharps Technology initiates Solana treasury, securing an initial fundraise of $400 million, potentially expanding up to $1 billion.

Established tech firm, Sharps Technology, Inc. (STSS), traded on Nasdaq, renowned for its focus on medical devices and pharmaceutical packaging, ventures into uncharted territories.

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2025 September 18 . 9:02 AM

2 min read

Tech company Sharps Technology introduces Solana treasury with an initial funding of $400 million,... — Tech company Sharps Technology introduces Solana treasury with an initial funding of $400 million, potentially expanding to a billion dollars.

Tech company Sharps Technology initiates Solana treasury, securing an initial fundraise of $400 million, potentially expanding up to $1 billion.

Sharps Technology, a Nasdaq-listed company, has announced a private placement to raise over $400 million for acquiring Solana (SOL) tokens. The financing was supported by a broad syndicate of leading global financial institutions and digital asset investors.

The move comes as Pantera Capital has backed Solana with a $1.1B bet, with a predicted Bitcoin price of $750K. Sharps Technology's Chief Investment Officer, Alice Zhang, highlighted Solana's speed and capacity to handle transactions worldwide as the reason for choosing it for the treasury strategy.

In a bid for maximum transparency, Sharps Technology has promised to provide regular updates on its SOL holdings and performance metrics. James Zhang, appointed as Strategic Advisor to the Company, will collaborate with top institutions to scale the treasury initiative.

The private placement offering included common stock and stapled warrants to purchase shares of common stock at a purchase price of $6.50 per unit. If all warrants are exercised, an additional $600 million could potentially be raised, increasing total proceeds to $1 billion.

Despite the near-record amounts of capital attracted by the Solana ecosystem, its token price, SOL, continues to lag behind, hovering around $200, far below its January ATH of $294.33.

Meanwhile, in other news, Next Technology has filed for a $500M common stock offering to buy more Bitcoin. XRP and Dogecoin ETFs are set to launch this week.

On the flip side, BYD stock has lost $45 billion in value due to rising doubts over China's EV dominance. Nvidia stock has dropped by 3% due to accusations of breaching China's anti-monopoly law.

Santander's Openbank is rolling out Bitcoin, Ether, and more for European users. Larry Ellison is involved with OpenAI, Paramount, Warner Bros., and TikTok all at once.

In the world of cryptocurrencies, the on-chain fees on Solana remain at a relatively modest $1.68 million daily, far from the record $28.89 million in January. However, one user lost $1M USDC to a MEV bot after a mistaken transaction.

Elsewhere, Monero double-spending threat grows after a block reorganization. Hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from it. The UAE M2 crypto exchange has changed its business model.

Finally, Pi Network begins its final Testnet1 upgrade ahead of mainnet transition. Solana creators have earned $19.3M from Pump.Fun streams. Despite the lack of publicly available information regarding Alice Zhang's interview on the yacht Solana on August 29, 2025, the impact of these events on the future of Solana and the cryptocurrency market remains to be seen.