Solana’s Unfulfilled $2B Treasury Dream: VisionSys AI’s Collapse and Investor Concerns

VisionSys AI's stock has plummeted by 77% following a $12 million share offering announcement, hitting a year-to-date low of $0.24. The company's five-day decline now exceeds 88%, raising serious investor concerns about its capital strategy. Notably, VisionSys AI's ambitious October plan to build a $2 billion solana (SOL) treasury remains unfulfilled, with no reported SOL purchases despite its partnership with Marinade Finance. This development casts doubt on the company's ability to execute its crypto-focused financial strategies, particularly around Solana, which was poised to be a cornerstone of its treasury ambitions. The lack of progress on this front, combined with the stock's dramatic collapse, suggests deeper operational or financial challenges. As of November 2025, the disconnect between VisionSys AI's promises and its actions has left both traditional investors and crypto enthusiasts questioning the viability of its roadmap. The situation underscores the risks associated with highly speculative AI-crypto ventures, even those targeting established blockchains like Solana.

VisionSys AI Shares Plummet 77% Following Share Offering Announcement

VisionSys AI's stock collapsed by 77% after disclosing a $12 million registered direct offering, with shares hitting a year-to-date low of $0.24. The company's five-day decline now exceeds 88%, exacerbating investor concerns about its capital strategy.

October's ambitious plan to build a $2 billion Solana treasury remains unfulfilled, with no reported SOL purchases despite partnering with Marinade Finance. The digital asset management firm oversees $2 billion in assets, but VisionSys has yet to clarify how the new funding will be deployed.

Solana (SOL) Price Dips Below Key Support Amid Alameda Unlocks

Solana's price fell 4.9% to $153.49 this week, breaching critical technical support at $156 despite robust institutional demand. Trading volume surged 17.25% above the seven-day average, signaling active market repositioning rather than passive decline.

Alameda Research unlocked 193,000 SOL tokens worth $30 million on November 11 as part of scheduled vesting extending through 2028. Meanwhile, whales accumulated $26 million in net spot inflows across major exchanges over three days, with long positions exceeding $457 million.

Institutional confidence remains steadfast. Solana-focused ETFs recorded ten consecutive days of inflows totaling $336 million this week. Grayscale and Bitwise now collectively hold $351 million in SOL assets, with Bitwise leading weekly inflows at $118 million.

SoFi Bank made history as the first U.S. financial institution to enable direct Solana trading through checking accounts, potentially unlocking new retail participation channels.