ChainCatcher news, focusing on investment in the Solana ecosystem, Canadian listed company Sol Strategies Inc. announced a private placement financing of 27.5 million CAD, with ParaFi Capital committing to fully invest. The funds will be used to expand SOL reserves, grow the validator business, and support daily operations.This financing includes convertible debenture units, each unit consisting of a 1,000 CAD face value convertible debenture and 400 warrants, with an annual interest rate of 2.5%. The conversion price and warrant exercise price are both 2.50 CAD per share. The convertible debentures can be redeemed after three years at 112% of face value plus accrued interest, with settlement expected to be completed on January 16, 2025.

ChainCatcher news, the Salvadoran government has proposed an initiative to reform the current banking law, introducing a new type of bank that can lend Bitcoin and provide crypto services. This initiative will allow private investors to form banks that offer Bitcoin and stablecoin services to mature investors.If approved, the plan will allow the creation of these banks, which can provide various services, including economic risk management, purchasing financial products, investment management, hedging, and other financial derivatives. These services will support any legal tender in El Salvador, such as the US dollar and Bitcoin.