CEA Industries’ BNC offered a sharp example of how stock perpetuals can operate while U.S. equity markets are closed. On Sept. 8, BNC perpetuals traded at about $4.56, roughly 35.5% above the last U.S. equity price, while 24-hour perpetual volume reached about $71.5 million by PerpEquities’ figures. Exchange-reported totals exceeded $200 million, compared with roughly $2.8 million in BNC spot-stock volume. Open interest reached about $88 million, more than half of the company’s equity float value, and Binance funding briefly hit its +2% per-eight-hour cap.

According to a report from BeInCrypto carried by ChainCatcher, Nasdaq-listed Forward Industries posted a net loss of $69 million in the third quarter of fiscal 2026. The loss was mainly driven by a fair-value impairment on its Solana holdings under U.S. generally accepted accounting principles (GAAP). The company ended the quarter holding roughly 7.55 million SOL, which translates to 0.073 SOL per share, up 9% from the previous quarter. During the quarter, Forward Industries added more than 500,000 SOL through purchases and staking, and also repurchased 2.5 million shares of its common stock. Revenue reached $10.8 million, more than four times the year-ago level, with the bulk of the gain coming from SOL staking and other treasury-related business. As of Aug. 3, its Solana holdings had increased to about 7.8 million SOL, lifting per-share SOL holdings to 0.0754. After the earnings release, shares of FWDI slipped 1.36% in after-hours trading.

Forward Industries says its debt-free, unlevered balance sheet leaves it better placed than many digital asset treasury peers during the downturn. The Nasdaq-listed firm holds about 7 million SOL.

Nasdaq-listed Forward Industries holds nearly 7M SOL at an average cost of $232. With SOL dropping to $85, unrealized losses approach $1 billion. FWDI stock fell from $40 to $5, but the firm carries no debt and uses staking and LSTs to weather the storm.

GSR has launched the BESO ETF on Nasdaq with exposure to Bitcoin, Ether, and Solana, including staking rewards on ETH and SOL. Separately, Forward Industries disclosed 6.91 million SOL in holdings.

Forward Industries will repurchase more than 6 million shares for $27.4 million, funded by a $40 million crypto loan from Galaxy Digital backed by its Solana staking position. The firm aims to boost SOL per share and narrow its discount to NAV.

Forward Industries repurchased 6M shares for $27.4M using a $40M crypto loan from Galaxy Digital, backed by its Solana holdings. Despite holding 7M SOL worth $614M, the firm faces $1.1B unrealized loss; the buyback aims to boost SOL per share and capitalize on discounted NAV.

Forward Industries announced a $27.4 million buyback of over 6 million shares, financed by a $40 million crypto loan from Galaxy Digital backed by staked Solana. The company aims to improve SOL per share and capitalize on a discount to NAV.