Crypto.com and Sharps Technology Partner to Strengthen Solana Ecosystem Growth Through Institutional Treasury Solutions
Rhea-AI Summary
Sharps Technology (NASDAQ:STSS) has announced a strategic partnership with Crypto.com to enhance its digital asset treasury management capabilities, particularly within the Solana ecosystem. The company has already acquired over 2 million SOL tokens, currently valued at more than $400 million with SOL trading above $200.
Through this collaboration, STSS will utilize Crypto.com's institutional-grade custody infrastructure and OTC desk for managing its digital assets. Crypto.com will integrate several Solana projects, aiming to expand access to the Solana ecosystem through qualified custodians. STSS plans to deploy capital through Crypto.com into Solana-native projects to generate yield while expanding ecosystem liquidity.
Positive
- Substantial Solana holdings of over 2 million SOL valued at $400+ million
- Partnership with Crypto.com provides access to institutional-grade custody infrastructure
- Potential for yield generation through Solana-native projects
- Access to Crypto.com's platform with 150 million users and deep liquidity
Negative
- Exposure to high volatility in SOL token price
- Regulatory uncertainties in digital asset management
- Concentration risk in single cryptocurrency ecosystem (Solana)
News Market Reaction 6 Alerts
On the day this news was published, STSS gained 2.68%, reflecting a moderate positive market reaction. Argus tracked a peak move of +10.0% during that session. Argus tracked a trough of -10.0% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $5M to the company's valuation, bringing the market cap to $179M at that time.
Data tracked by StockTitan Argus on the day of publication.
STSS is an emerging leader in digital asset treasury management, with a bold vision to align traditional finance with the Solana ecosystem. The Company has previously announced plans to establish a Solana-focused digital asset treasury strategy and, to date has acquired more than
As part of this collaboration, STSS intends to use Crypto.com's platform, including its institutional-grade custody infrastructure and OTC desk, which offers deep liquidity, competitive pricing, and discreet execution, to manage its digital asset treasury. Crypto.com will also integrate several Solana projects, representing a significant step in expanding access to the Solana ecosystem through qualified custodians. This partnership underscores STSS's commitment to advancing the growth of the Solana network in close alignment with key Solana ecosystem players.
The Company's Solana holdings are currently valued at over
"STSS has an ambitious vision for its digital asset treasury strategy, and we are excited to partner with them to help realize that vision," said Eric Anziani, President and Chief Operating Officer of Crypto.com. "Crypto.com is uniquely built to offer the comprehensive capabilities required by institutions to safely and effectively manage digital asset treasuries."
"At STSS, we view our digital asset treasury not only as a balance sheet strategy, but as a commitment to advancing the future of open, efficient financial infrastructure," said James Zhang, Strategic Advisor to STSS. "Partnering with Crypto.com, a platform with over 150 million users, provides us with the institutional-grade tools and liquidity access to responsibly manage one of the largest Solana treasuries, while also directly contributing to the growth of the Solana ecosystem. This collaboration marks a pivotal step in aligning our long-term corporate strategy with innovation at the forefront of digital finance."
Clients interested in Crypto.com custody solutions can submit contact requests at crypto.com/custody.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this release other than statements of historical fact are forward-looking statements, including statements regarding the Company's execution of its Solanadigital asset treasury strategy, the anticipated benefits of its partnership with Crypto.com, and the potential opportunities such initiatives may create for retail and institutional audiences. Forward-looking statements are based on current expectations, assumptions, and beliefs, and involve risks and uncertainties that could cause actual results to differ materially.
These risks and uncertainties include, among others: the Company's ability to successfully execute its Solana treasury strategy; volatility in the market price of SOL and other digital assets; changes in the regulatory or legal environment; competitive pressures; and general market, economic, and business conditions. Additional risks are described in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise these statements, whether as a result of new information, future developments, or otherwise, except as required by law.
About Crypto.com
Founded in 2016, Crypto.com is trusted by millions of users worldwide and is the industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem. Learn more at https://crypto.com.
About Sharps Technology
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class, smart-safety syringe products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities that incorporate syringe technologies that use both passive and active safety features. For additional information, please visit www.sharpstechnology.com.
The Company has adopted a digital asset treasury strategy focused on accumulating SOL, the native digital asset of the Solana blockchain, leveraging capital markets raises to power on-chain yield generation with the Solana Ecosystem.
Media Contact
Prosek Partners for Sharps Technology
Pro-SharpsTechnology@Prosek.com
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SOURCE Sharps Technology Inc
FAQ
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