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Sharps Technology Partners with Crypto.com to Expand Solana Strategy
Sharps Technology Inc. (NASDAQ: STSS) made headlines on Thursday with its announcement of a bold initiative to repurchase up to $100 million of its outstanding stock through open-market purchases and negotiated transactions. This move comes alongside an exciting expansion of its digital asset strategy focused on Solana, in partnership with Crypto.com.
The collaboration aims to enhance Sharps’ commitment to decentralized finance, with Crypto.com providing essential services such as custody, liquidity, and over-the-counter trading. This strategic partnership underscores Sharps’ ambition to integrate traditional finance with blockchain assets, positioning itself as a key player in the Solana ecosystem.
Sharps has already acquired over 2 million Solana (CRYPTO: SOL/USD) tokens, valued at more than $400 million, as Solana trades above $200. A portion of these holdings will be utilized in Solana-native projects through Crypto.com’s platform, aimed at earning yield and boosting liquidity across the ecosystem.
Eric Anziani, President and COO of Crypto.com, expressed enthusiasm for the partnership, stating, "STSS has an ambitious vision for its digital asset treasury strategy, and we are excited to partner with them to help realize that vision."
Strategic advisor James Zhang emphasized that the digital asset treasury is a pivotal step toward building "open, efficient financial infrastructure." By aligning with Crypto.com, Sharps aims to create long-term value for shareholders while supporting growth in decentralized finance.
As a result of these developments, STSS shares saw a 2.65% increase, trading at $6.96 in premarket activity. The market is keenly watching how this partnership will unfold, especially as the cryptocurrency landscape continues to evolve.
In related news, Bitcoin recently hit a two-month high of $118,000, with Ethereum, XRP, and Dogecoin also experiencing significant gains, indicating a robust market environment for digital assets.
Stay tuned for more updates as Sharps Technology embarks on this ambitious journey in the world of decentralized finance.