I’m excited to share that I have joined @UpexiTreasury - the leading @Solana treasury company - as Chief Strategy Officer responsible for the cryptocurrency strategy and public visibility efforts 🏎️ 🏎️ 🏎️

Want to know more about @UpexiTreasury? Looking forward to presenting at 3pm PT today. Check it out! 🙏

Landed in Los Angeles for @theLDMicro 20th Annual Main Event. Great line up of investor meetings, and a @UpexiTreasury presentation.

Q: What has @UpexiTreasury been up to recently? A: Reducing expenses and fortifying the balance sheet. Check out the full investor deck here 👇 ir.upexi.com/news-events/pre…

Tune in at 1pm ET today for the @WebullGlobal Emerging & Innovative Companies webinar, featuring @UpexiTreasury and other leading companies webull.com/webinar/detail/ff…

At the @MaximGrp 2026 Growth Summit in NYC today 🗽🍎 maximgrp.com/2026-growth-sum…

Per @Visa, @Solana recorded $3.32B in stablecoin payments in September 2025, representing 6.1% of monthly stablecoin payments volume across 21 chains. Visa defines “payments” as real-world economic transactions—goods, services, payroll and P2P transfers—excluding trading, DeFi, exchange flows, routing and infrastructure activity. While not huge, Solana’s 6.1% share of stablecoin payments exceeded its 5.7% share of all stablecoin transactions. Interesting given how often @Solana is viewed primarily as the home of trading.

.@Solana handled ~7.4m stablecoin payments in August, ~12% of all stablecoin payments by count, per Visa's onchain dashboard. A year earlier Solana handled ~1.6m, about 5% of all stablecoin payments that month. The average stablecoin payment on Solana was ~$410 in August, against ~$640 across all chains. I tend to think payment count tracks adoption better than dollar volume, since a few large transactions can push the averages. My guess is Solana passes 30m stablecoin payments a month by the end of 2027.

Some interesting stats on cross-border B2B payments from @Capgemini’s World Payments Report: • A typical cross-border B2B payment costs ~2% of its value • The full corporate payment process takes ~3.5 days • ~$4T of corporate liquidity is tied up in the payment process And corporates are already looking beyond banks: 36% of B2B payment volume is routed through non-banks, while nearly 60% would buy stablecoin services from a non-bank. The opportunity is enormous. Legacy payment rails are slow, expensive and capital-intensive. Stablecoin payments on @Solana are near-instant and cost fractions of a cent. That’s the opportunity. 😉

.@Solana carried ~7.7% of all stablecoin payments in August, up from ~2.6% a year earlier, per @Visa's onchain dashboard. Visa's dashboard counts payments for goods, services, payroll and transfers between people, and leaves out bot and exchange flows. Stablecoin payments on Solana grew ~5x from August 2025 to ~$3.0b in August 2026. Stablecoin payments across all chains grew ~69% to ~$39b a month over the same year. Solana's share of payments is now larger than its ~5.6% share of stablecoin supply. I'd look for Solana's share of stablecoin payments to pass 10% by this time next year.

The spot @Solana ETFs are on a roll, adding $255m of net inflows over the last 10 trading days, equivalent to 0.4% of its beginning-period market cap cc' @SoSoValueCrypto @Bitwise

30-day net RWA flows by blockchain w @Solana leading, per @RWA_xyz 👀

Over the last year, @Solana had the second highest growth in stablecoin market cap (measured in dollars rather than percentages) of the major chains, and outpunched its weight

.@Solana is significantly outpacing the market on stablecoin growth:

$BTC ended June at ~$58k. Since then, we had a massive AI sell-off erasing over $2T from global semi / hardware companies, and the monetary policy picture has worsened with an additional Fed rate hike expected this year. $BTC not only hung in there, but it's risen. Seems like there is no one left to sell.

BTC was at $58k in late June. Since then, we had: • a massive AI sell-off erasing over $2T from global semi / hardware companies • the monetary policy picture worsened w more Fed hikes expected this year • @Strategy was selling BTC in July and Aug • crypto's mega bill, the CLARITY Act, did not pass Not only did $BTC hang in there, but its risen. I think there is no one left to sell...

No pun intended, but we are getting CLARITY around digital assets in the US: • SEC/CFTC: Joint 5-category crypto taxonomy, tokenized security rules, & clearing ATS pathways • CFTC: Tokenized collateral pilot & 24/7 market trading guidance • OCC: Processing & approving national trust bank charters for crypto firms • FDIC & Fed: Proposed stablecoin rules, clear bank activity guidance, & parity capital treatment • Treasury/IRS: Finalized Form 1099-DA broker reporting & cost-basis rules for digital assets • FinCEN: Updated BSA/AML travel rules, CVC mixing rules, & unhosted wallet oversight • CFPB: Proposed Reg E/EFTA coverage for digital wallets, payment tokens, & stablecoins

CLARITY didn't pass, and that's OK. IMO, had it passed, it could have accelerated development as companies would be more certain the rules won't change in the future. And the biggest impact would have been on price, as the market pulled that in ahead of actual development and activity. But, I don't think anyone was building with the anticipation of CLARITY passing, so it won't slow down the current trajectory. And most importantly, the agencies are creating the rules companies need to jump in. So it would have been nice, but the industry will still get to where it's going

Long way to go before this becomes law, but I've always thought an SBR was one of the two ways BTC hits $1m in quick fashion... theblock.co/news/regulation/…

Here are my prepared remarks on @Solana from the @UpexiTreasury earnings call last evening: Thanks @UpexiAllan and hello everyone. Allan covered our strategic priorities and progress at the Company, and I will provide an update on Solana. Afterall, the main determinant of the success of any treasury company will be the performance of its underlying token. Put simply, Solana remains incredibly well-positioned. As a brief review, Solana is a high-performance blockchain, and is uniquely positioned as the first, second-generation smart contract blockchain. This gives Solana both best-in-class technology from having come later than early-generation blockchains, and deep network effects with a plethora of users, developers, and applications. While one may think of Solana and smart contract blockchains as a new computing paradigm, Solana is hyper-focused on Internet Capital Markets, where it aims to provide a single liquidity venue for all the world’s assets, accessible to anyone, anywhere, anytime with just a simple internet connection. Personally, I like to think of this as reimagining our antiquated global financial infrastructure, which were quite literally built 50+ years ago, with internet and blockchain-based rails for massive speed and cost advantages and through items like stablecoins, tokenization, and AI agents. And with top performance and distribution, Solana is in the catbird seat to lead this revolution. Metrics agree, and show that Solana is winning. Key statistics from last quarter include: • A 48% increase in stablecoin supply over the prior year • Tokenized equities growing to over $420 million from virtually zero a year ago o And with trading volume of over $5b, amounting to a 97% market share • The cheapest median transaction fee of any chain at just 0.04 cents • A 53% market share of all blockchain transactions • And strong spot ETF inflows compared to large outflows for others A big reason for Solana’s success, and a pivotal factor for the future, is Solana’s growth with institutions. Afterall, institutions are likely the fastest way to onboard the masses, given their billions of customers, built-in trust, billions of dollars of capital, and leading developers. Notable corporate announcements during the quarter were numerous, and occurred in various areas from key players like: • In Payments & Stablecoins, from SoFi, Western Union, MoneyGram, and Mastercard, • In Tokenization & Capital Markets, from State Street, Amundi, Securitize, and Ondo; and • In Infrastructure: from Google Cloud, Amazon Web Services, Moody’s, and Allfunds It is early innings, but institutions are reimagining our antiquated financial infrastructure with Solana as the rails, and we are on our way towards Internet Capital Markets. As that continues, Solana and Upexi are well positioned to benefit. And with that, I’ll turn the call over to our Chief Financial Officer, Andrew Norstrud, for a review of our financial performance.