A Solana Treasury Firm Made $66.6M Without Making Much Revenue

DeFi Development (DFDV) stock fell 8.95% from its $3.24 previous close to $2.95 on November 12. The drop came on the day the Solana (SOL) treasury firm reported a $66.6 million third-quarter profit. The company said its net asset value (NAV) per share more than quadrupled from August 12 to September 30. Shares traded above the prior close in the morning before sliding from midday. Follow us on X to get the latest news as it happens Revenue Nearly Halved, So Where Did the $66.6 Million Come From? The company’s Q3 shareholder letter shows revenue fell 47.4% year over year to $2.4 million. Its quarterly filing shows two gains drove the profit instead. Net gains on digital assets added $37.9 million.

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