- VisionSys AI is preparing a Solana-focused treasury plan targeting up to $2 billion in SOL holdings.
- VSA stock fell as much as 57% during trading on Wednesday before a partial recovery.
- The company aims to acquire $500 million in Solana within the next six months.
- Medintel Technology Inc, a VSA subsidiary, has formed an exclusive partnership with Solana DeFi protocol Marinade Finance.
- VSA reported only $15 million in cash equivalents at the end of December 2024, with no details on how the additional funds will be raised.
Shares of VisionSys AI (VSA), a company specializing in brain-machine interfaces and Artificial Intelligence, dropped sharply after the firm announced plans to build a Solana treasury that could reach $2 billion in value. The initiative is designed to increase liquidity and strengthen the company’s financial position through significant cryptocurrency investment.
On Wednesday, VSA shares dropped as low as $1.26, a 57% decline, before rebounding to $2.05 per share, which was still down 40% for the day. Despite the fall, the shares remain more than 200% higher since the beginning of the year. VisionSys AI intends to purchase $500 million worth of Solana within the next six months as the first step of its larger $2 billion digital asset strategy.
To implement the new strategy, VSA’s subsidiary, Medintel Technology Inc, has reached an exclusive partnership with Marinade Finance, a decentralized finance (DeFi) protocol on the Solana Blockchain. According to CEO Heng Wang, “This partnership represents a once-in-a-generation opportunity to integrate digital assets into our corporate DNA…We are building a foundation for the future.” Marinade Finance operates a Solana staking platform that manages over 10.4 million SOL, or about $2.2 billion.
If successful, VSA will be among the top five publicly traded companies holding Solana, following firms like Forward Industries with $1.5 billion in SOL. However, VSA’s latest SEC filing shows the company had just $15 million in cash and cash equivalents at the end of December 2024, with no explanation of how it plans to raise the necessary funds. A company representative did not respond to questions about funding plans.
Marinade’s MNDE token rose 13% following the announcement, now trading with a market capitalization above $79 million.
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