SOL Strategies Inc. (CSE: HODL) (OTCQB: CYFRF) (formerly, Cypherpunk Holdings Inc, “Sol Strategies” or the “Company”), a publicly traded Canadian company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem, announced a series of board changes designed to accelerate the Company’s growth strategy, strengthen corporate governance and enhance its board of directors’ (the “Board”) depth of expertise. The new Board members bring significant industry expertise, deep capital markets experience, and global relationships that are expected to enhance operational execution, expand market reach, and reinforce the Company’s position as a key participant in the Solana ecosystem.
The Company has appointed Luis Berruga as Chairman of the Board, and welcomes José Manuel Calderón and Michael Hubbard, as new directors. Concurrently, Tony Guoga will step down as Chairman and transition to the role of Strategic Advisor.
Chairman and Board Appointments to Support Next-Stage Growth
Luis Berruga, an experienced leader with two decades of traditional finance and capital markets expertise, assumes the role of Chairman of the Board. Mr. Berruga joined SOL Strategies’ Board in March 2025 and previously served as CEO and Chairman of Global X ETFs, where he oversaw the company’s growth from a small startup to a global ETF leader with over $80 billion in assets under management (AUM).
José Manuel Calderón joins the Board as an independent director, bringing strong investment and leadership experience and a robust network of relationships in the Canadian market, where he is widely known from his time with the Toronto Raptors basketball team during his 14-year career in the NBA. Calderón enhances the Board’s independent composition while contributing strategic insights from his background in professional sports, entrepreneurship and philanthropy. His appointment is expected to strengthen the Board’s diversity of perspectives and regional reach.
Michael Hubbard, the Company’s Chief Strategy Officer has also been appointed to the Board. A recognized leader within the Solana validator community, Hubbard joined the Company through its acquisition of Laine’s validator operations. His addition brings substantial technical depth, ecosystem insight, and operational experience that will further align the Board with the Company’s Solana infrastructure priorities.
Together, these appointments reflect the Company’s focus on delivering operational excellence, building strategic partnerships, and expanding visibility across institutional and retail channels.
Strengthening Leadership During Industry Evolution
As the institutional Solana ecosystem rapidly matures with increasing competition and evolving regulatory frameworks, these leadership appointments position SOL Strategies to capitalize on emerging opportunities while maintaining its first-mover advantages. The enhanced Board expertise in capital markets, validator operations, and institutional relationships provides the Company with differentiated capabilities to navigate complex market dynamics and accelerate value creation for shareholders.
Chairman Transition and Continued Commitment
Tony Guoga will step down as Chairman of the Board and transition to a new role as Strategic Advisor. In his role as Strategic Advisor, he will continue working closely with the Company’s leadership team and help guide the Company’s growth trajectory.
Management Commentary
“This transition represents a pivotal moment in SOL Strategies’ evolution as we position ourselves for accelerated growth and expanded market presence,” said Leah Wald, CEO of SOL Strategies. “Tony has been an extraordinary and visionary leader who guided us through transformational growth, built the foundation for tremendous value creation, and positioned us to further scale SOL Strategies during our critical early development. We are extremely grateful for his support and commitment to our mission now and in the future.”
“The appointment of Luis as Chairman brings exceptional institutional knowledge, rigorous risk management and traditional finance expertise as we advance our Nasdaq listing objectives,” said Wald. “José’s addition as an independent director enhances our governance structure and will provide valuable strategic insights. Michael’s appointment reflects the deep integration of our validator operations and reinforces our commitment to technical excellence and Solana ecosystem leadership.”
About SOL Strategies
SOL Strategies Inc. (CSE: HODL) (OTCQB: CYFRF) is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications.
To learn more about SOL Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.