Sonic Labs Approves $150M Plan for US Stock Market Entry

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Blockchain company Sonic Labs has passed a governance proposal to fund a major expansion into U.S. capital markets with a $150 million war chest. The proposal received nearly unanimous support from its community with a 99.98% approval rate.

The funds will be used for two primary objectives: first, $50 million is earmarked to help launch a regulated ETF tied to its S token in partnership with a major provider. Second, $100 million is designated for a private investment on the Nasdaq, creating a reserve fund to buy S tokens off the open market.

As part of the move, the company is also creating a new U.S.-based subsidiary, Sonic USA, and hiring a local leadership team to navigate regulatory requirements and build partnerships.