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Drinks Maker Safety Shot Shifts Treasury Focus to Solana’s Bonk
Drinks maker Safety Shot has announced a significant shift in its treasury focus by allocating $25 million to Solana-based memecoin Bonk. This strategic move highlights the company’s confidence in the potential of this asset class and signals a broader trend of innovative companies exploring new digital assets.
The decision comes as part of Safety Shot’s overall corporate evolution, with CEO Jarrett Boon emphasizing the importance of partnering closely with Bonk’s founding team to position itself within one of the most dynamic ecosystems. To support this shift, the company has cleared its debts and maintained a strong cash position exceeding $15 million. Additionally, Safety Shot plans to raise an extra $35 million through preferred shares convertible into common stock.
Despite investor enthusiasm surrounding memecoins like Bonk, the market’s reaction was less than expected, with the company’s shares plummeting by over 50% in after-hours trading. This decline is a stark contrast to the previous month, where the stock gained modestly by around 36%. The year-to-date performance now remains negative at -22.5%.
It appears that investor hesitation can be attributed to broader concerns regarding the volatile and cooling memecoin market. In recent months, this segment has seen a 25% decrease in market capitalization since early 2025.
Source: crypto-economy.com
