TechFlow news, on October 3, according to The Block, Australian company Fitell announced the purchase of 216.8 million PUMP tokens for $1.5 million. PUMP is the native token of Pump.fun, a memecoin launchpad in the Solana ecosystem, currently with a market capitalization of $2.5 billion and an increase of over 90% in the past month.
Previously, Fitell secured convertible debt financing of up to $100 million, with the initial tranche of $10 million allocated for purchasing SOL. The company is transitioning from a fitness equipment retailer into a digital asset management firm and plans to rename itself Solana Australia Corporation.
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