TechFlow news, September 23 — According to GLOBE NEWSWIRE, fitness equipment provider Fitell Corporation (Nasdaq: FTEL) announced a financing facility of up to $100 million to support the launch of its Solana treasury strategy.
The company plans to generate yield by deploying SOL assets through diversified on-chain decentralized finance and derivatives strategies, including options, snowball products, and on-chain liquidity provision. The initial SOL assets will be held in custody by BitGo Trust Company in the U.S. and staked via institutional-grade infrastructure.
Fitell has appointed David Swaney and Cailen Sullivan as advisors to lead the digital asset treasury strategy. David Swaney has been active in the digital asset space since 2017, while Cailen Sullivan is an early employee of Coinbase and currently serves as co-founder of Adrena, a perpetual decentralized exchange in the Solana ecosystem.
