Coinbase Secures Landmark $435M Solana Treasury from Sharps Technology in Major Institutional Adoption Move

In a groundbreaking development for institutional cryptocurrency adoption, Sharps Technology has executed one of the largest corporate digital asset migrations by transferring its entire $435 million Solana (SOL) treasury to Coinbase. This strategic shift, announced on October 13, 2025, represents a significant milestone in the convergence of traditional corporate treasury management with blockchain-based financial infrastructure. The move involves over 2 million SOL tokens currently valued at approximately $435 million, making it one of the most substantial corporate digital asset custody transitions in cryptocurrency history. Sharps Technology's decision to leverage Coinbase Prime's institutional-grade custody and OTC trading services underscores the growing confidence among major corporations in established cryptocurrency custodians. This transaction not only demonstrates the maturation of digital asset custody solutions but also signals a broader trend of corporations increasingly embracing blockchain technology for treasury management. The migration highlights Coinbase's strengthening position as a preferred partner for institutional clients seeking secure, regulated digital asset storage and trading capabilities. Industry analysts view this move as a bullish indicator for both Solana's institutional adoption and the broader cryptocurrency market, suggesting that corporate treasuries are becoming more comfortable with allocating significant portions of their assets to digital currencies. This development follows a pattern of increasing institutional participation in cryptocurrency markets, with major corporations gradually shifting from exploratory positions to substantial operational commitments in blockchain-based finance.

Sharps Technology Moves $435M Solana Treasury to Coinbase in Strategic Shift

Sharps Technology has transferred its $435 million solana (SOL) treasury to Coinbase, marking one of the largest corporate digital asset migrations to date. The move underscores the company's deepening commitment to blockchain-based finance and institutional-grade custody solutions.

The firm holds over 2 million SOL tokens, valued at more than $400 million at current prices. Coinbase Prime's custody and OTC trading infrastructure will now safeguard the treasury, providing liquidity and pricing efficiency for Sharps' aggressive digital asset strategy.

This partnership follows Sharps' $400 million private investment round in August, backed by prominent crypto funds including ParaFi Capital and Pantera Capital. The migration signals growing institutional confidence in Solana's ecosystem and Coinbase's enterprise offerings.

Jack Dorsey Advocates for Tax Exemption on Small Bitcoin Payments to Boost Everyday Use

Jack Dorsey, founder of Square, has called for a de minimis tax exemption for small Bitcoin transactions in the United States, aiming to make the cryptocurrency more practical for daily commerce. "We want Bitcoin to be everyday money ASAP," Dorsey stated, aligning with Square's recent rollout of bitcoin payment services for merchants.

Legislative efforts are gaining traction, with Wyoming Senator Cynthia Lummis introducing a bill proposing exemptions for transactions under $300, capped at $5,000 annually. Currently, capital gains tax applies to all bitcoin transactions sold above purchase price, stifling its potential as a medium of exchange.

Industry leaders like Coinbase's Lawrence Zlatkin argue that such exemptions WOULD spur payment innovation. The U.S. lags behind jurisdictions like the UAE, Germany, and Portugal, where favorable tax policies already attract crypto businesses and talent.