Leadership Transition at SOL Strategies: Leah Wald Steps Down, Michael Hubbard Takes the Helm

Leah Wald, the Chief Executive Officer and Director of SOL Strategies, has departed from her executive roles effective October 1, 2025. Wald announced her departure through an X post, expressing her intention to pursue opportunities in the AI and financial technology sectors. Her transition marks a significant milestone for the Solana-focused infrastructure company as it navigates a critical growth phase.

Leah Wald’s Tenure Reshapes SOL Strategies’ Direction

Leah Wald joined SOL Strategies in July 2024, during a pivotal period of organizational transformation. Under her leadership, the company underwent a comprehensive strategic overhaul, transitioning from Cypherpunk Holdings into a specialized Solana blockchain infrastructure provider. The rebranding effort culminated in a successful cross-listing on NASDAQ, positioning the company as a major player within the Solana ecosystem. During her tenure, Wald spearheaded the development of the Solana treasury model, a key initiative that differentiated SOL Strategies in the competitive infrastructure market.

Michael Hubbard Assumes Interim Leadership Role

Following Leah Wald’s departure, SOL Strategies appointed Michael Hubbard as Interim Chief Executive Officer. Hubbard, who previously held the position of Chief Strategy Officer and Director, brings substantial expertise in the Solana ecosystem. In 2021, Hubbard founded Laine, a Solana validator that grew to peak delegation levels exceeding 5.5 million SOL tokens before being acquired by SOL Strategies earlier in 2025. His familiarity with Solana’s infrastructure and innovative vision position him to drive continued organizational growth.

As Interim CEO, Hubbard is expected to focus on expanding SOL Strategies’ infrastructure services and deepening its footprint within the Solana network. Notably, he has articulated interest in exploring on-chain tokenization of the company’s equity, a forward-thinking approach that could reshape how the company operates within decentralized finance frameworks.

Strategic Significance of the Executive Shift

The timing of this leadership transition reflects SOL Strategies’ entry into a transformational phase. The company has successfully pivoted from broad-based crypto and treasury investing toward specialized infrastructure, staking services, and Solana-centric financial models. Recent developments underscore this momentum—the company’s partnership with Ark Invest has bolstered its validator business operations, resulting in delegated assets surpassing CAD $1 billion.

SOL Strategies currently maintains holdings of approximately 435,064 SOL tokens, valued at roughly $89 million at the time of the announcement. With SOL trading at $79.98 as of February 2026, the company’s digital asset portfolio continues to reflect its deep commitment to the Solana ecosystem. The organization has launched an executive search process, supported by external recruitment specialists, to identify a permanent Chief Executive Officer. During this transitional period, Michael Hubbard will maintain operational continuity while the search progresses, positioning SOL Strategies to capitalize on infrastructure opportunities within the rapidly evolving Solana blockchain environment.