Another crypto treasury company is selling tokens to pay off debt. The publicly listed Solana treasury company, SOL Strategies, announced that it sold 65,001 SOL at an average price of 87.88 CAD (about $63 USD) to repay CAD 5.75 million (approximately $4.126 million USD) in debt. This move is somewhat similar to Strategy’s first BTC sale last week—it’s a treasury company actively selling reserve assets, but the purposes differ. Strategy sold 32 BTC to pay preferred stock dividends and manage liquidity, while SOL Strategies is straight-up selling tokens to pay off debt. The company explained it as "actively managing the balance sheet to support operational business." In other words, they need cash on hand, and SOL is their most liquid asset. But they also hinted at some potential upside: Houdini Swap, which they acquired in early June, is expected to generate about $13 million in revenue by 2025. This suggests that SOL Strategies is trying to shift from "just holding tokens" to "building a real business that generates revenue," rather than solely relying on SOL price fluctuations. Looking at this in the context of recent trends, it signals something—during a market downturn, crypto treasury companies are starting to sell tokens. Whether it’s Strategy or SOL Strategies, when there’s a need for cash, reserve assets have to be liquidated. HODLing is about belief, selling is about reality. When debt comes due, belief has to make way for cash flow.