The transaction, which would turn the medical device firm’s stock into a proxy for the price of Solana, is expected to close on Aug. 28. Alice Zhang, a venture capitalist and cofounder of crypto smartphone maker Jambo, will join the board of Sharps and become the company’s chief investment officer. James Zhang, another cofounder of the smartphone company, will join as a strategic advisor and consultant.
“We will have a team with deep ties to the Solana ecosystem and proven founder-level experience in scaling institutional digital asset platforms,” Alice Zhang said in a statement.
A spokesperson for Jump Crypto declined to comment. Spokespeople for Multicoin Capital and Galaxy Digital did not immediately respond to a request for comment.
The investment into Sharps comes on the heels of a slew of announcements from small public companies to establish so-called digital asset treasuries, or pools of cryptocurrency held on companies’ balance sheets.
As the price of the world’s largest cryptocurrency increased, Strategy’s share price surged, as traders bought up its stock as a proxy for Bitcoin.
Watching the meteoric rise of Strategy, which now boasts a market capitalization of almost $100 billion, copycats followed suit. Other small publicly traded companies began adding Bitcoin to their balance sheet in the hopes of pops in their stocks. And soon firms started to buy more exotic tokens, including Ethereum, XRP, and Litecoin.
Correction, Aug. 25, 2025: Changed the headline to more accurately describe Sharps Technology.