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DigitalX Limited, listed on the ASX, has firmly denied any policy breaches following recent inquiries from the Australian Securities Exchange (ASX) about director Ieva Guoga’s purchase of shares and her transactions involving major shareholder and father, Antanas “Tony G” Guoga.
The ASX reportedly questioned the timing of Ieva Guoga’s acquisition of 3 million shares just before DigitalX announced its $11.6 million Solana token (SOL) purchase on May 29, sparking concerns about potential insider trading. Additionally, the exchange sought clarification about transactions between Ieva and her father, Antanas Guoga, who is also DigitalX’s largest shareholder with roughly 15% ownership.
Company Stands By Compliance and Calls for Policy Improvements
In response, a spokesperson for DigitalX emphasized that all trades adhered to the company’s securities trading policy and ASX listing rules. The company reiterated this stance in a letter sent to the ASX on July 31.
“At no point has DigitalX suggested that Ms. Guoga failed to comply with the company’s Securities Trading Policy, only that those requests did not match word-for-word the requirements,” the spokesperson stated.
DigitalX’s policy outlines strict trading windows and mandates directors obtain prior approval from senior officers before buying or selling shares, aiming to prevent trades based on undisclosed material information.
While the board remains confident no illegal activity took place, DigitalX views the situation as an opportunity to refine its internal processes.
Bitcoin Expansion and Strategic Moves in the Crypto Space
Meanwhile, DigitalX announced plans to significantly increase its Bitcoin holdings from approximately 500 BTC to 2,100 BTC by 2027 under its ambitious “21 Hundred” strategy, positioning Bitcoin as the centerpiece of its corporate treasury.
Antanas Guoga, a former European Parliament member and professional poker player, also chairs Canadian-listed SOL Strategies, which holds an exclusive 12-month contract to provide Solana staking services to DigitalX.
Earlier this year, Guoga facilitated a non-dilutive loan for ASX-listed biotech firm Opyl, enabling Bitcoin purchases through the DigitalX Bitcoin ETF. He serves as a non-executive director at Opyl.
DigitalX has scheduled a shareholder meeting for September 5 to approve issuing shares and warrants to both Ieva and Antanas Guoga via a related-party placement.
ASX Response Pending
As of now, the ASX has not publicly commented on the ongoing inquiry.
