[Solana Treasury Company DeFi Development Authorizes CHAD Preferred Stock Buyback] According to The Block, Nasdaq-listed Solana Treasury Company DeFi Development Corp. has approved a CHAD preferred stock buyback plan, allowing for the repurchase of all outstanding shares as well as any shares that may be issued in the future. The company stated that it does not currently intend to initiate the buyback immediately. The primary goal is to bring CHAD back to its $10 par value, and once it stabilizes at par value, the company will have buyback tools available if it falls below that level. This authorization adds a potential capital allocation tool to its existing $300 million CHAD ATM, which is used to raise funds for increasing SOL holdings. The company paid its first CHAD dividend on October 1. On Monday, the company announced that preliminary estimates for the third quarter show NAV per share more than doubling, with Solana Treasury increasing to 2.56 million SOL over the past week.