VisionSys AI Stock Crashes 57% on $2B Solana Treasury Bet – Recovery Ahead?

VisionSys AI saw its shares plunge more than 57% on Wednesday after the company unveiled an ambitious plan to launch a $2 billion Solana (SOL) treasury program in partnership with staking provider Marinade Finance.

The AI-powered healthcare and biotech solutions firm said its subsidiary, Medintel Technology, signed an exclusive partnership with Marinade to build one of the largest digital currency reserves among publicly traded companies.

BREAKING: Nasdaq-listed VisionSys AI (VSA) has launched an up to $2B Solana treasury initiative in an exclusive partnership with @MarinadeFinance. The first phase targets $500M in $SOL to be acquired and staked within 6 months. pic.twitter.com/C7ei0iB4AX

The initiative, which begins with a $500 million acquisition and staking of SOL over the next six months, is intended to bolster VisionSys’s balance sheet, enhance liquidity, and deliver long-term shareholder value.

Marinade Finance, Solana’s leading staking protocol, will manage the staking operations, ensuring compliance and performance optimization. The company has previously supported more than 154,000 SOL holders and undergone multiple security audits, giving VisionSys access to a well-established platform.

Chief Executive Officer Heng Wang described the move as a transformational step for the company, combining VisionSys’s proprietary AI algorithms with Solana’s high-performance blockchain.

“It positions VisionSys as a pioneer of AI-driven blockchain treasury management,” Wang said in the announcement. “By leveraging Marinade’s expertise, we are building a foundation for the future, exploring next-generation intelligent DeFi solutions and tokenomics models.”

If successful, VisionSys’s treasury would rank among the five largest publicly traded Solana reserves, trailing Forward Industries, which currently holds $1.5 billion in SOL.

Despite the announcement, investors reacted sharply. VSA shares closed at $2.05, down 40% on the day, after hitting an intraday low of $1.26.

The selloff erased much of the company’s recent momentum, though the stock remains up more than 200% year-to-date. VisionSys’s market capitalization now stands at roughly $34.2 million.

In contrast, Marinade’s governance token, MNDE, edged higher, gaining 2.3% to trade around $0.13, according to CoinGecko data.

The company did not provide details on how it would finance the first $500 million phase of the treasury build-out, a point that analysts say could determine the feasibility of the program.

The firm’s longer-term goal is to scale the treasury to $2 billion, a target that would place VisionSys alongside major corporate players in the digital asset sector.

A wave of corporate moves is placing Solana at the center of digital asset treasury strategies, with multiple firms announcing major financings and adoption plans in September.

On September 15, Helius Medical Technologies revealed a $500 million private investment in public equity, led by Pantera Capital, to establish a Solana treasury. The deal, paired with $750 million in stapled warrants, could expand its war chest to $1.25 billion. Investors included Animoca Brands, Arrington Capital, HashKey Capital, and Republic Digital.

Helius Medical raises $500M backed by Pantera Capital for $1.25B Solana treasury with stock surging 159% after announcement.#Solana #Treasuryhttps://t.co/xG4c9AN0dF

Days later, Brera Holdings said it raised $300 million in a private placement to launch Solmate, a Solana-focused infrastructure and treasury arm. Backers included ARK Invest, the Solana Foundation, and UAE investors. The company plans dual listings on Nasdaq and the UAE exchange.

Forward Industries has taken the strategy further. On September 11, it closed a $1.65 billion financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital, acquiring 6.8 million SOL.

The firm has also filed plans for a $4 billion equity program and has announced a partnership with Superstate to tokenize its stock on Solana, making FORD shares tradable on-chain.

Forward Industries to tokenize stock on @solana via @SuperstateFunds' platform, following a move by Galaxy Digital. #Tokenization #Solana #SOLhttps://t.co/sbOuY4WJ2Q

Other firms are also joining in. DeFi Development Corp has expanded its buyback program to $100 million while continuing to grow its Solana holdings, now valued near $500 million.

Meanwhile, Nasdaq-listed Upexi appointed Solana investor SOL Big Brain as an advisor, strengthening its position as the third-largest public Solana treasury with $421 million in holdings.

According to CoinGecko’s Solana treasury reserve data, nine entities now hold 2.47% of Solana, valued at $2.9 billion.

Together, these moves show Solana’s growing role as a reserve asset for public companies and institutions, positioning it at the forefront of efforts to integrate digital assets into mainstream corporate finance.

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