AI stock crashes 60% on shocking crypto announcement

VisionSys AI Inc. (Nasdaq: VSA), a tech company focused on brain-machine interaction and advanced AI, announced a digital asset treasury (DAT) on Oct. 1.

A DAT company refers to a publicly traded firm that holds a significant amount of crypto assets like Bitcoin on its balance sheet — similar to how public firms traditionally hold cash or commodities.

VisionSys AI's wholly owned subsidiary, Medintel Technology Inc., has entered into a partnership with Marinade Finance to launch a Solana-focused DAT worth up to $2 billion.The Solana cryptocurrency logo is seen in this illustration photo taken in Warsaw, Poland on 17 November, 2024.

VisionSys AI aims to stake $500M in SOL in 6 months

Based on the proof-of-stake (PoS) consensus mechanism, SOL is the world's sixth-largest cryptocurrency with a market cap of $120 billion.

VisionSys AI's goal is to acquire and stake $500 million in SOL within the next six months as part of the first phase.

Related: What is Bitcoin mining? Explained

PoS is an environmentally sustainable method, unlike crypto mining, to achieve consensus on making sure all nodes agree on the current state of the blockchain ledger. Users stake or lock up their coins to verify and add blocks to the chain. In return for the successful addition of blocks, they earn rewards on their staked coins.

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"This Partnership represents a once-in-a-generation opportunity to integrate digital assets into our corporate DNA," said VisionSys AI CEO Heng Wang. "This involves combining VisionSys's proprietary AI algorithms with Solana's high-performance blockchain to explore next-generation intelligent Defi solutions and tokenomics models, unlocking new value at the intersection of AI and Web3."

"We are excited to partner with VisionSys. As a leader in AI solutions for blockchains, forming a Solana treasury vehicle with the leading Solana delegation provider is a perfect fit," Marinade Finance's head of institutional growth, Scott Gralnick, said.

VisionSys AI stock crashes 60%

The market didn't react kindly to the announcement as VisionSys AI's stock fell more than 60% to as low as $1.26 within hours of the market opening on Oct. 1.

However, VSA began a recovery after initial shock and was trading at $2.24 at the time of writing.

SOL, on the other hand, has risen more than 5% in 24 hours to trade at $219.86 at press time, as per Kraken's price feed.

This story was originally reported by TheStreet on Oct 1, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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