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Silo Pharma Inc. (SILO) announced it has purchased Ethereum and Solana tokens as part of its cryptocurrency treasury strategy. The biopharmaceutical company said the acquisitions represent the first implementation of its multi-chain digital asset approach.
The company has begun staking the purchased tokens for revenue generation and capital appreciation, according to CEO Eric Weisblum. He stated the purchases reflect the company’s conviction in decentralized blockchain platforms and decentralized finance.
Silo Pharma describes itself as a developmental-stage biopharmaceutical and cryptocurrency treasury company. The firm’s therapeutic portfolio includes programs targeting stress-induced psychiatric disorders, chronic pain, and central nervous system diseases.
The company’s drug development pipeline includes SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and preclinical assets for Alzheimer’s disease and multiple sclerosis. Silo conducts research collaborations with universities and laboratories.
The cryptocurrency purchases align with what the company characterizes as accelerating adoption of digital assets by institutional investors and global enterprises. Silo stated the investment supports both its treasury strategy and broader blockchain tokenization initiatives.
The information was disclosed in a company press release.