According to @dydxfoundation, Nasdaq-listed DeFi Development (DFDV) is significantly increasing its capacity to purchase Solana (SOL) through two major funding initiatives. The company secured a $5 billion equity line of credit with RK Capital Management, providing flexible capital to scale its SOL holdings, as stated in a press release. This news initially pushed DFDV shares up 12%. Subsequently, the firm announced an upsized $112.5 million convertible note offering to fund more SOL acquisitions and a stock buyback program, which saw its stock price dip 12%. These moves are part of DFDV's strategy to emulate MicroStrategy's approach with Bitcoin (BTC) by building a large cryptocurrency treasury focused on Solana. As of May 16, the firm held over 609,000 SOL. The aggressive fundraising signals strong institutional interest in accumulating SOL, which is currently trading around $152 with a 24-hour gain of over 3% against USDT.

According to @dydxfoundation, Nasdaq-listed firm DeFi Development (DFDV) has secured a $5 billion equity line of credit with RK Capital Management, explicitly to increase its treasury holdings of Solana (SOL), creating significant potential buying pressure for the asset. The source states DFDV held over 609,000 SOL as of May 16. In other major ecosystem news, Polygon (MATIC) is undergoing a strategic overhaul, with co-founder Sandeep Nailwal taking over as CEO of the Polygon Foundation. The project will now focus on its AggLayer for cross-chain liquidity and will retire its zkEVM rollup network, marking a significant pivot in its technical roadmap. Additional developments include Bitcoin Core's plan to increase the OP_RETURN data limit, potentially impacting network usage and fees, and the Ethereum Foundation's new treasury policy to ensure long-term sustainability.