DeFi Development Authorizes CHAD Share Buybacks but Holds Off for Now

DeFi Development Corp. has given itself the option to repurchase CHAD preferred shares, both current and future, through an open-ended program. The Nasdaq-listed company can use this authority if CHAD trades below its $10 par value, though it has no immediate plans to start buying back shares. CEO Joseph Onorati emphasized that the company’s priority is to help CHAD establish itself near its $10 par value first.

The authorization complements DeFi Development’s existing $300 million CHAD at-the-market program. The company intends to use proceeds from CHAD sales to fund additional purchases of Solana (SOL), reinforcing its treasury strategy. DeFi Development reported holding about 2.56 million SOL, with its net asset value per share more than doubling in recent weeks.

DeFi Development’s shares (DFDV) rose approximately 3.3% during Tuesday’s trading session following the update. The company remains one of the few publicly listed firms incorporating digital assets into its treasury strategy. Investors will now monitor whether CHAD’s trading price prompts the company to exercise its repurchase option.