TechFlow, Oct 23 — According to Decrypt, Nasdaq-listed Solana Company (NASDAQ: HSDT) announced a partnership with staking service provider Twinstake to further expand its on-chain strategy. The company currently holds over 2.2 million SOL tokens, valued at approximately $396 million, custodied at Anchorage Digital Bank.
HSDT was formerly Helius Medical Technologies, a medical device manufacturer, and officially transitioned into a Solana-focused asset management firm on September 15. Despite completing a $500 million private placement led by Pantera Capital and Summer Capital, the company’s stock price has continued to decline, falling from $182.75 on June 2 to $6.25 on Wednesday, a drop of over 96% within six months.
Company Executive Chairman Joseph Chee said, "Volatility creates opportunities. We are not shying away from market pressure—we are embracing the challenge." The new partnership will provide the company with institutional-grade staking, voting, and reporting infrastructure, making it one of the first U.S. publicly traded companies to directly stake SOL through compliant channels.
