Upexi, Inc. (NASDAQ: UPXI), a consumer goods firm with growing involvement in digital assets, has created a new advisory committee to focus on growing its footprint in the Solana network. The Tampa-headquartered company announced Tuesday that BitMEX co-founder Arthur Hayes will serve as the first member of the committee.
The committee can leverage the expertise, connections, and exposure of top players in both mainstream finance and crypto. Members, Upexi states, will assist with strategic collaborations, targeted investments, and capital-raising activities, with the goal of positioning the company as the best Solana treasury manager.
CEO Allan Marshall said the initiative would be “a catalyst for Upexi’s next stage of growth,” adding that Hayes’ experience and reputation made him the ideal inaugural member. “It will expand our footprint in the Solana ecosystem and help us champion Solana among institutions and corporates,” he said.
Hayes, currently chief investment officer at cryptocurrency investment company Maelstrom, stated his firm invested in Upexi months ago due to its “clear treasury model expertise” and “risk-conscious approach.” He said he is looking forward to helping “cement its position as the definitive Solana treasury company.”
As per recent reports, Upexi holds roughly 1.9 million SOL tokens and has been strategically working to expand its market share in Solana. The company recently inked a $500 million equity line of credit agreement with Alliance Global Partners, which will enable it to sell common stock primarily to purchase more SOL and for general corporate needs.
The Nasdaq-listed company said it will be announcing more advisory committee members in the coming weeks, as well as new initiative and content for its Solana strategy.
