MehranZour

September 8, 2025 – SwissBorg, the Swiss-based crypto wealth management platform, was hit by a $41 million hack targeting its Solana (SOL) Earn program. The breach exploited a vulnerability in their partner staking provider, Kiln’s API, allowing attackers to siphon approximately 192,600 SOL—nearly half of SwissBorg’s Solana reserves (which stood at $72.6 million) .$SOL
What Happened?
Hackers manipulated the API that connects SwissBorg’s Earn product to external staking services. Through this compromised endpoint, they transferred nearly 193,000 SOL to a newly flagged wallet—now labeled as the “SwissBorg Exploiter” on-chain .
Impact: Limited but Significant
SwissBorg confirmed in a public statement that less than 1% of their user base was affected, and crucially, all core systems and other services remain safe and operational . To honor user trust and minimize damage, SwissBorg is covering the losses using its own Solana treasury, although final reimbursement amounts are still being determined .
Response & Recovery Strategy
SwissBorg launched a multi-pronged response:
Working with blockchain forensics teams, white-hat hackers, Fireblocks, and the Solana Foundation to trace the stolen funds.
Coordinating with exchanges to block related transactions.
Reassessing third-party risk, tightening API governance, and reinforcing internal security protocols .
CEO Cyrus Fazel described the incident as “a bad day, but not a fatal one,” underlining SwissBorg’s resilience .
Why This Matters for the Crypto Community
This exploit highlights the rising threat of third-party dependencies and API vulnerabilities in DeFi and staking platforms. Kicking off amid broader industry security concerns—such as the recent $2.4 million Nemo Protocol hack on Sui—it pressures the industry to reevaluate risk management around external integrations .
Despite the setback, SwissBorg’s transparent communication and proactive compensation plan have earned community nods for responsibility and trust preservation.

In a sweeping move shaking both crypto and traditional markets, Eightco Holdings (NASDAQ: OCTO) announced it will adopt Worldcoin (WLD) as its primary treasury reserve asset. Supported by a $250 million private placement and an additional $20 million strategic investment from BitMine, this marks the world’s first-ever Worldcoin-based corporate treasury strategy.
$WLD

Capital Raise Details
Eightco raised $250 million by issuing approximately 171.2 million shares at $1.46 each, plus a $20 million chunk from BitMine acquiring another 13.7 million shares.

Market Reaction & Stock Movement
The announcement triggered a 41% surge in WLD’s price and drove Eightco’s own stock skyrocketing—reports cite jumps of over 1,000% in pre-market trading and 5,000% intraday in certain cases.

Leadership and Strategy
Veteran tech and AI analyst Dan Ives has been appointed Chairman, reinforcing confidence in the company’s pivot.
Moreover, Eightco plans to rebrand its ticker from "OCTO" to "ORBS", effective September 11, 2025, to align with World’s signature “Orb” iris-scanning technology.

Why Worldcoin?
Worldcoin’s Proof of Human (PoH) system uses zero-knowledge iris scans via “Orbs” to authenticate users—an increasingly vital capability in the era of AI where verifying human identity is paramount. The project has already amassed around 16 million PoH accounts across 45 countries.

Context within Crypto Strategy Trends
This strategic shift mirrors the approach of Michael Saylor’s Strategy (formerly MicroStrategy), which pioneered the crypto-treasury model with Bitcoin. Eightco’s adoption of WLD not only marks a diversification but also elevates the profile of identity-based crypto assets.

Looking Ahead
Eightco’s bold move could usher in a new trend: corporations holding identity-linked crypto as a store of value. But such innovation comes with risks—volatile crypto valuations and regulatory uncertainties remain high on the list. Still, with institutional believers like BitMine and experienced figures like Dan Ives in the mix, this could well be a defining moment for Worldcoin and for corporate crypto adoption as a whole.

The cryptocurrency market has once again turned its attention to Solana (SOL) following a major institutional development. As SOL Strategies, a Canadian investment firm focused exclusively on Solana, prepares to uplist to the Nasdaq Global Select Market, investors are asking whether this milestone could trigger the next big rally for SOL.

Current Market Performance
As of September 6, 2025, Solana was trading at nearly $200. While this represents a 7.6% dip from its recent monthly peak, the token has still managed to gain almost 100% compared to its yearly low. This resilience highlights growing institutional interest, with SOL continuing to stand out as one of the more actively accumulated assets among large-scale investors.

Nasdaq Listing of SOL Strategies
On September 9, 2025, SOL Strategies will begin trading on Nasdaq under the ticker STKE. This uplisting from the over-the-counter market is expected to significantly enhance the firm’s liquidity, strengthen its access to capital markets, and increase its visibility among institutional investors.

The move marks the first time a Solana-focused company has secured a Nasdaq listing, adding further credibility to Solana’s position in the global crypto landscape.

Institutional Accumulation and Holdings
As of August 2025, SOL Strategies had accumulated approximately 435,064 SOL tokens, valued at over $87 million. This makes it one of the largest institutional holders of Solana.

Previously, the company raised close to $500 million, partly through convertible notes, with the primary aim of expanding its SOL holdings. Such large-scale accumulation reflects strong confidence in Solana’s long-term potential, particularly within institutional circles.

ETF Approval as a Possible Catalyst
Another major factor that could drive Solana’s price higher is the upcoming ETF approval deadline on October 16, 2025. Several major financial institutions—including Bitwise, 21Shares, Canary, Franklin Templeton, and Fidelity—have submitted applications for Solana ETFs.

Market sentiment appears highly optimistic, with prediction platforms like Polymarket reflecting more than 80% odds of approval. If approved, Solana ETFs would provide mainstream investors with easier exposure to the asset, potentially unlocking significant inflows of institutional capital.

Technical Outlook
On the technical front, Solana recently formed a golden cross—a bullish indicator where the 50-day moving average crosses above the 200-day moving average. The token is also trading near a Murrey Math Lines resistance level, suggesting that a breakout could propel SOL toward its year-to-date high of $295. This would represent an upside of nearly 47% from current levels.

The combination of Nasdaq uplisting, institutional accumulation, and potential ETF approvals creates a favorable environment for Solana’s price growth. While short-term volatility remains likely, the broader outlook suggests that Solana is entering a critical phase of institutional adoption.

If these catalysts align positively, SOL could not only recover from its recent dip but also surge toward new highs, reinforcing its reputation as one of the most dynamic assets in the cryptocurrency market.

#Solana #NASDAQ