GSR invests in Upexi and invests $100 million in Solana

Here is the English translation: Upexi, invested in by crypto market maker GSR, has transformed into a Solana version of MicroStrategy. Not only did it purchase discounted locked SOL, but after reaching asset scale of $100 million, it announced a collaboration with BitGo to manage its growing digital asset portfolio using their secure custody and over-the-counter trading services. Upexi is a company based in Florida, USA, specializing in consumer product development, manufacturing, and distribution of brand owners. The company previously reached an agreement with investors to sell approximately 44 million common shares or pre-funded warrants at $2.28 per share through a private placement, with total proceeds of $100 million. This transaction was led by GSR, with participation from many well-known crypto venture capital firms such as Delphi Ventures and Maelstrom (Arthur Hayes family office). The company plans to use approximately $5.3 million for operating capital and debt reduction, with remaining funds to be used for establishing the company's Solana financial operations and purchasing Solana. According to The Block, Upexi has signed an agreement with crypto custody institution BitGo to utilize their secure custody and over-the-counter trading services to manage its growing digital asset portfolio. Upexi announced on Monday that it purchased 326,347 discounted locked SOL at an average price of $135.22 per token, doubling its Solana holdings to over 595,000 SOL tokens, valued at approximately $100 million. The well-known crypto market maker GSR has now developed a new investment approach of purchasing a very small public company and converting it into a crypto-type company, then selling its stocks at a premium. The UPXI stock initially purchased at $2.28 has now directly risen to $10, and even peaked at $22 at one point. The purchased SOL tokens can also serve as validator nodes, earning over 6% returns. These small companies transformed into crypto companies, tied to crypto asset prices and operations, likely only emerge during a bull market. (The rest of the text about Skechers was not translated as it was not part of the original request)

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3G Capital Is Not Affected by Tariffs and International Trade, Still Optimistic About Skechers' Future Performance

In 2024, Skechers' performance reached a record $9 billion, and according to the recent investor report, 62% of sales occurred outside the United States. The transaction with 3G Capital comes at a time of increasing uncertainty in international sales and import tariffs, which Skechers will particularly feel due to its manufacturing operations primarily in China and India.

The potential financial changes do not seem to have shaken 3G Capital's view of the deal. 3G Capital's co-partners Alex Behring and Daniel Schwartz stated in the announcement that they greatly admire the business built by the team and look forward to supporting Skechers in opening a new chapter.

Analysts Suggest Skechers' Privatization Can Protect the Company from Wall Street Scrutiny

Needham & Co. analyst Tom Nikic noted in his report that Skechers' privatization move is very surprising. However, he also mentioned that the macro environment (tariffs, consumer sentiment, US-China relations, etc.) may have accelerated the acquisition decision, as the company may want to address these challenges without Wall Street scrutiny.