Classover Goes All In: $500M Bet on Solana, What’s Their Endgame?

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What You Should Know (If You Care):

  • Classover Holdings, in a move that may either make or break them, is pouring money into Solana like there’s no tomorrow.
  • The plan is backed by a $500 million deal with Solana Growth Ventures, with an initial, modest $11 million round to start.
  • Classover’s grand scheme? 80% of the proceeds from the deal will be devoted to gobbling up as much SOL as humanly possible.

Ah, Classover Holdings (KIDZ), a darling of the online education world, has decided to pivot to something… shall we say, more volatile? Yes, they’re betting big on Solana. And not just a little bet, mind you. They’ve announced, with all the flair of a high-stakes gambler, a $500 million deal to buy up as much SOL as they can.

In an official statement (or press release, if you’re into corporate lingo), they revealed the deal involves selling up to $500 million in senior secured convertible notes. Of course, the plan is to use the majority of the cash to fuel their Solana frenzy. Because, why not?

The initial step in this adventure? A small $11 million round—just a taste. Don’t worry, they’ll go bigger, much bigger. And the best part? They plan to sink up to 80% of the proceeds from these notes into purchasing SOL tokens. Sounds like a plan that’s either brilliant or just plain crazy. You decide.

The notes in question are convertible into Class B shares at double the stock’s trading price before the deal closes—because who doesn’t love a good gamble, right? But wait, there’s more! Other companies, like Defi Development Corp., are apparently playing the same game. It’s almost like a race, but for Solana.

Oh, and don’t forget, this isn’t Classover’s first taste of Solana. They’ve already snatched up 6,472 SOL for about $1.05 million, so they’re no strangers to this wild ride. It’s the beginning of what might be a long, bumpy journey into Solana territory, and they’re not holding back.

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2025-06-03 16:59