DeFi Development Holds 2.59M SOL as CHAD Preferred Hits Record

The signal here is the divergence: a Nasdaq-listed treasury vehicle still accumulating SOL while the pace of that accumulation slows, even as its preferred stock trades at a record. That combination suggests the market is pricing the financing structure more richly than the underlying buying programme, which matters for anyone tracking how public-company treasuries fund their crypto exposure. Whether the weekly purchases keep decelerating, and whether the preferred premium holds, is the open question.