PANews reported on November 14th that Upexi, a Nasdaq-listed digital asset finance company based in Solana, has become the latest digital asset finance company to announce a share buyback program. The company's board of directors approved a $50 million buyback program to acquire outstanding common stock. Notably, Upexi's latest quarterly report showed total revenue of $9.2 million, compared to $4.4 million in the same period last year; net profit was $66.7 million, compared to a net loss of $1.6 million in the same period last year. The company launched its SOL acquisition strategy in April and currently holds over 2.1 million SOL tokens.

Cryptocurrency finance companies operate by striving to achieve a positive correlation between their share price and net asset value (NAV) – meaning that when their share price falls, buybacks help instill confidence in investors and improve their adjusted net asset value (mNAV) metric.