DeFi Development Corp said it has completed an $11 million CHAD preferred stock offering, with Fundstrat's Tom Lee participating in the purchase. The company described the deal as the first digital credit instrument backed by Solana. CEO Joseph Onorati said Bitcoin has already shown that there is substantial market demand for digital credit. The announcement links the new issuance to Solana-based support and frames it as part of a broader push to build credit products tied to digital assets. No additional terms of the offering were disclosed in the brief statement. The update was reported by Odaily.
DeFi Development Corp said it has completed an $11 million CHAD preferred stock offering, with Fundstrat's Tom Lee participating in the purchase.
The company said the issuance is the first digital credit instrument backed by Solana. CEO Joseph Onorati said Bitcoin has shown that there is strong market demand for digital credit.
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