Leah Wald Resigns from SOL Strategies CEO Position During Solana Initiative

Leah Wald is resigning from her position as CEO of SOL Strategies. Her final day in this role will be October 1, and she will also be resigning from her board position immediately. This update follows a significant year for the company, which has transitioned from a conventional investment firm to one that is entirely dedicated to the Solana ecosystem.

A Known Figure Assumes the Role Temporarily

Michael Hubbard, who is currently the Chief Strategy Officer of the company, will take on the role of interim CEO effective October 1. He is also a board member and has played a significant role in guiding the company’s recent direction. SOL Strategies is already on the lookout for a permanent replacement, but for now, Hubbard will be at the helm.

As shared by @solstrategies_ today, I decided to step down as CEO and Director after successfully leading the transformation I was brought in to accomplish, including our NASDAQ cross-listing and the development of the DAT++ model.

Having met these targets, this feels…

— Leah Wald (@LeahWald) September 22, 2025

From Cypherpunk to Solana

Wald was instrumental in transforming the organization. What was formerly known as Cypherpunk Holdings has, under her guidance, evolved into SOL Strategies. She facilitated the company’s rebranding, implemented a new treasury strategy centered on Solana, and successfully achieved a Nasdaq listing. The transformation was more than surface-level; it represented a deeper commitment to locking tokens, infrastructure, and tools that institutions can genuinely utilize.

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Why Hubbard is a Suitable Choice

Hubbard’s experience aligns well with the direction SOL Strategies is pursuing. In 2021, he established a Solana node named Laine. That endeavor garnered over 5.5 million SOL delegated to it before being acquired by SOL Strategies. This background allows him to grasp the technical nuances of managing infrastructure, which corresponds with the company’s aim of providing valuable services to other institutions developing on Solana.

The Larger Context

This change in leadership coincides with the company’s ambitions to build more than merely an investment portfolio. SOL Strategies is devising what it refers to as a Solana treasury model along with a new framework named DAT++. These tools aim to streamline the process for businesses and institutions to function within the Solana protocol, rather than just investing in it. This indicates that the company isn’t simply wagering on Solana’s prosperity; it’s endeavoring to contribute to its development.

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Potential Challenges

Even with a strategic plan, such transitions invariably come with an element of risk. Much will depend on the smoothness of the leadership transition and the duration required to identify the ideal long-term CEO. There will be pressure to maintain growth without losing sight of the core mission. Investors will be closely monitoring how the company navigates this change, particularly given that recent developments have heightened expectations.

What to Observe Moving Ahead

Watch for whether SOL Strategies continues to expand its infrastructure capabilities. There will also be interest in the practical implementation of the DAT++ model and whether it garners genuine engagement. In the immediate term, stakeholders will be curious to see if Hubbard can sustain momentum through this transition. Once a successor CEO is appointed, that decision could reveal a great deal about the company’s future direction.

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