Defi Tech investment Tenx begins trading on TSX-V

Executive Summary

• Tenx Protocols Inc. began trading on the TSX Venture Exchange under the ticker symbol "TNX" following the successful completion of a $30 million subscription receipt financing.
• The financing is part of Tenx's go-public transaction, bringing the company's total capital raised in 2025 to over $33 million.
• The transaction included participation from major digital asset investors, including Borderless Capital, Hive Blockchain Technologies, Chorus One, and Defi Technologies.

Key Details

• Listing Details: Tenx Protocols Inc. started trading on the TSX Venture Exchange on December 10, 2025, under the ticker symbol TNX.
• Financing Amount: The company completed a subscription receipt financing totaling $30 million.
• Total Capital Raised: The successful financing brings Tenx's total capital raised in 2025 to more than $33 million.
• Investor Participation: Leading digital asset investors and institutions participated in the financing, specifically:
  • Borderless Capital
  • Hive Blockchain Technologies
  • Chorus One
  • Defi Technologies
• Strategic Partnership: Stillman Digital (Defi Technologies' wholly owned trading subsidiary) will partner with Tenx to provide institutional trade execution services and market intelligence to support efficient treasury deployment across multiple blockchain networks.
• Business Focus: Tenx generates recurring revenue across high-performance Layer 1 networks, including Solana, Sui, and Sei.
• Operations: The company operates institutional-grade staking infrastructure, validator services, and digital asset treasury strategies.
• Leadership Team:
  • Mat and Filip Cybula: Led the company; previously founded and exited Cryptiv.
  • Geoff Byers: Chief Technology Officer; long-time blockchain engineer and former CTO of Tetra Trust.

Notable Quotes

• "Tenx is led by a proven team and is emerging as a leader in blockchain infrastructure. Their TSX-V listing is a significant step in their growth," said Andrew Forson, president of Defi Technologies. "The partnership fits naturally with Defi's advisory platform, Stillman Digital's trading infrastructure and Reflexivity Research's market insights as Tenx expands its treasury and staking services across high-performance networks."