Based on materials from the website - By The Crypto Times
Upexi, Inc. (NASDAQ: UPXI), a consumer goods manufacturer actively involved in digital assets, has created a new advisory committee that will focus on expanding its presence in the Solana network. The company, headquartered in Tampa, announced on Tuesday that BitMEX co-founder Arthur Hayes will be the first member of the committee.
The committee will be able to leverage the experience, connections, and authority of leading players in both traditional finance and the cryptocurrency space. According to Upexi, its members will facilitate strategic partnerships, targeted investments, and capital raising, aiming to position the company as the best treasury manager in Solana.
CEO Allan Marshall stated that this initiative will be a "catalyst for the next stage of Upexi's growth," adding that Hayes's experience and reputation make him an ideal candidate for the role of the first committee member. "This will expand our presence in the Solana ecosystem and help us promote Solana among institutional and corporate clients," he said.
Hayes, currently serving as the Chief Investment Officer of the cryptocurrency investment firm Maelstrom, stated that his company invested in Upexi several months ago due to its "clear expertise in treasury model management" and "risk-oriented approach." He added that he looks forward to the opportunity to help "strengthen its position as a leading company in managing Solana's treasury assets."
According to recent reports, Upexi owns approximately 1.9 million SOL tokens and is strategically working on expanding its market share in Solana. The company recently signed a $500 million credit line agreement with Alliance Global Partners, which will allow it to sell common stock primarily for the purchase of additional SOL and general corporate needs.
The Nasdaq-listed company stated that it will announce new members of the advisory committee as well as new initiatives and the content of its strategy regarding Solana in the coming weeks.
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