Q2 2025 DeFi Development Corp Earnings Call Transcript
Welcome to Defi Development Corps 2nd quarter 2025 business update call. I am Dan Kang, head of investor relations. Joining me today are Joseph Onorati, our CEO John Han, our CFO, and Parker White, our COO and CIO. As a reminder, we will be making forward-looking statements during this call. Actual results may differ materially due to risks and uncertainties which are outlined in our filings with the SEC.
Our latest shareholder letter was published yesterday, August 12th, aftermarket closed and is available on our website. We'll begin today by answering questions submitted by retail, followed by questions from the sell side. All right, guys, welcome.
So start with the first question, top voted question on say.
Did the $5 billion dollar raise already get completed, or are you still ATMing to acquire $5 billion to purchase soul? How much soul are you looking to acquire by end of year 2025? I'll take this one. So the $5 billion figure you're referring to, is with respect to our equity line of credit, or as we abbreviated the EOC. It's a facility that allows us at our discretion to
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