DeFi Dev’s Solana Strategy Hit by Token Crash Despite Revenue Beat

DeFi Development Corp posted stronger-than-expected quarterly revenue but reported a steep earnings loss after a sharp decline in Solana prices battered the value of its crypto treasury. SOL fell more than 30% during the quarter, triggering major unrealized losses and dragging DFDV shares far below last year’s highs. Still, the company continued increasing its SOL holdings per share and reaffirmed aggressive accumulation targets, betting that staking rewards and validator income can eventually separate it from traditional crypto treasury firms.