Mercurity Fintech Touts $200M Solana Deal – Solana Calls It Fiction

Solana’s ecosystem just got a dose of drama. Mercurity Fintech claims it inked a $200 million venture deal with the blockchain giant—but Solana’s team insists no such agreement exists. Who’s bluffing?

The He-Said/She-Said of Crypto Deals

Mercurity’s announcement hit like a bullish press release, complete with promises of ‘strategic synergy’ and ‘ecosystem growth.’ Solana’s response? A flat denial—no paperwork, no handshake, no $200 million. Either someone’s playing fast and loose with the truth, or this is the most expensive miscommunication in DeFi history.

Follow the Money (If It Exists)

$200 million isn’t couch change—even in crypto, where valuations sometimes feel like abstract art. If Mercurity’s claim collapses, it’ll join the hall of fame for vaporware partnerships. Bonus irony: A fintech firm fumbling the finance part.

Solana’s rep stays stainless—for now. But in a space where hype often outpaces reality, this one’s a reminder: Trust, but verify. Especially when nine figures are ‘on the table.’

Solana Ventures or Another Company With The Same Name?

Despite Solana Ventures’ swift denial, Mercurity Fintech hasn’t taken down their posts or provided any clarity on it.

However, according to WuBlockchain, the company stated in its press release is not the renowned Solana Ventures but another company that simply uses a similar name.

Solana Ventures said it has not signed or participated in any equity credit line agreements with any public company or institution. The company in the press release simply uses a similar name.

The incident comes as legitimate Solana treasury companies have driven significant market interest, with DeFi Development Corp. reaching 999,999 SOL holdings worth $181 million.

The dispute occurs amid a broader corporate rush into Solana treasuries, with BIT Mining planning to raise $200-300 million for SOL accumulation and multiple companies pivoting from Bitcoin to alternative cryptocurrencies.

Legitimate Solana Treasury Companies Drive Market Momentum

DeFi Development Corp. has emerged as the leadingtreasury company, purchasing 141,383 SOL between July 14 and 20 at an average price of $133.53, for approximately $19 million.

The Florida-based firm now holds 999,999 SOL and SOL equivalents, just one token short of its symbolic 1 million milestone.

The company’s SOL-per-share ratio reached 0.0514, representing a 13% increase from the previous week as it targets 1 SPS by December 2028.

DeFi Development has drawn only 0.4% of its $5 billion equity line of credit, raising $19.2 million with $5 million in proceeds remaining for future purchases.

Similarly, BIT Mining announced plans to raise $200-300 million for Solana treasury conversion, marking a departure from its previous focus on mining Bitcoin, Litecoin, Dogecoin, and ethereum Classic.

The company’s stock surged over 300% in pre-market trading following the announcement of its pivot to the Solana ecosystem.

Moreover, Canadian firm Sol Strategies holds over 420,000 SOL tokens and filed for a Nasdaq listing under ticker “STKE” as part of U.S. expansion plans.

The company secured a $500 million convertible note facility earmarked for acquiring and staking additional SOL tokens.

NextGen Digital Platforms has also purchased $1 million worth of bitcoin as its first crypto acquisition, with board approval for up to 80% treasury allocation to digital assets, including Bitcoin, Ethereum, and Solana.

The diversified approach shows a trend where corporate acceptance of multiple cryptocurrency treasuries is increasing.

However, it is worth noting that altcoins carry heightened risks due to volatility, lower liquidity, and experimental technology compared to Bitcoin.

Altcoin Treasury Trend Expands Beyond Bitcoin Strategy

Animoca Brands’ Research reports that public companies are increasingly adding altcoins, such as Ethereum, Solana, and XRP, to their treasury strategies, following MicroStrategy’s Bitcoin model.

Public companies are increasingly adding altcoins like Ether (ETH), Solana’s SOL, and XRP to their treasury strategies.#XRP #ETH https://t.co/P1ZjeIXlUu

Companies utilize convertible debt and equity issuance to build exposure without direct spot market purchases.

For instance, SharpLink Gaming increased its Ethereum holdings by purchasing 32,892 ETH, worth approximately $115 million, bringing the total accumulation to 144,501 ETH, valued at $515 million, over nine days.

The company became the world’s largest corporate holder of Ethereum, with 353,000 ETH worth over $1.2 billion.

In the past few weeks, corporate altcoin announcements have triggered average stock price jumps of 150% in one day, 185% in a week, and 226% over a month.

Following this adoption trend, Solana’s market capitalization surged past $100 billion for the first time since January 2025, following a 6.7% jump that brought prices to $192.94.

The milestone positions Solana as the sixth-largest cryptocurrency, just $9 billion behind Binance Coin.

Adding to the growing momentum, Solana decentralized exchanges processed over $1 trillion in cumulative volume during the first half of 2025, exceeding the volume of the previous two halves combined.