DeFi Technologies Issues Year-End CEO Letter to Shareholders

Executive Summary

• DeFi Technologies announced a $100 million capital raise in 2025, strengthening its balance sheet to $165.7 million cash and digital assets plus $44 million venture investments, with no debt.
• The company highlighted operational milestones: Valour now lists 102 regulated digital‑asset ETPs across multiple exchanges (London, SIX Swiss, B3 Brazil) and is preparing second‑generation institutional products.
• Management outlined strategic growth plans for 2026, including geographic expansion, new custody and market‑infrastructure services, and selective M&A opportunities.

Key Details

• Capital Raise: $100 million raised in 2025 to increase strategic flexibility.
• Balance Sheet (Q3 2025): $165.7 million cash, cash equivalents, and digital‑asset treasury; $44 million private‑venture investments; zero debt.
• Revenue & Income (first three quarters 2025): ~$80 million revenue; $39 million operating income.
• Valour ETP Portfolio: Reached 102 exchange‑traded products, the most diversified regulated digital‑asset shelf globally.
• Exchange Listings Added in 2025: London Stock Exchange, SIX Swiss Exchange, B3 (Brazil) – establishing a strategic foothold in LATAM.
• Institutional Infrastructure: Stillman Digital expanded execution capabilities, liquidity access, and market intelligence services.
• Second‑Generation Product Roadmap: Plans for UCITS‑style funds, actively managed certificates/ETNs, tokenized products, hedge‑fund structures, and other institutionally focused vehicles.
• Future Initiatives (2026):
• Launch “Valour Custody” as an external custody business line.
• Roll out decentralized market services (e.g., dark‑pool execution venues).
• Pursue geographic expansion into Europe, LATAM, Africa, and the Middle East.
• Continue product innovation, AUM growth, and selective M&A or venture investments.

Notable Quotes

“We are building one of the most capital‑efficient asset management businesses in the world… Our response is not to argue with the market. Our response is to keep executing, provide clearer visibility into what gives us our edge, and earn trust through consistent delivery.” – Johan Wattenström, CEO & Chairman

All forward‑looking statements are subject to risks and uncertainties described in the original release.