Solana treasury firm cuts shares 700-for-1 but leaves room for nearly 100 billion more

According to CryptoSlate, SOLAI Limited, the treasury firm associated with Solana, has undertaken a significant capital restructuring, resulting in a 700-for-1 share consolidation. Following this move, the company now has nearly 100 billion authorized Class A shares, which comes after the New York Stock Exchange suspended its American depositary shares due to a market cap decline. Despite the increase in authorized shares, SOLAI has not disclosed specific plans for their use following the capital adjustment. Read the full story at CryptoSlate . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.