ASX-listed digital asset investment manager DigitalX Limited has pushed back against suggestions it breached internal trading rules after the exchange queried director Ieva Guoga’s recent share purchases and her dealings with major shareholder Antanas “Tony G” Guoga, her father.
Key Takeaways:
- The ASX queried DigitalX over director Ieva Guoga’s 3 million share purchase ahead of a Solana acquisition.
- DigitalX said she sought trading approval but couldn’t log in due to system updates.
- The company deemed the announcement non-price-sensitive.
According to The Australian Financial Review, the ASX sought clarification over Ieva’s acquisition of 3 million DigitalX shares shortly before a May 29 announcement on an $11.6 million Solana token purchase.
The exchange questioned whether the timing complied with DigitalX’s securities trading policy and also asked about transactions involving Antanas, a former Lithuanian MEP and ex-professional poker player.
DigitalX Appoints Ieva Guoga to Board Amid Leadership Reshuffle
Ieva, 26, joined the board in mid-May alongside new chairman Leigh Travers, replacing outgoing chair Toby Hicks and non-executive director Davide Bosio.
In a letter dated July 28, the ASX asked whether her trades met policy requirements.
DigitalX responded that she had sought permission from both the chair and company secretary but was unable to log the trades through its internal platform due to system updates following the closure of the CHESS clearing system.
While admitting she “did not comply strictly” with all provisions of the trading policy, the company said no laws or listing rules had been breached.
It argued the May 29 announcement was not price-sensitive, describing it as confirmation of an already disclosed Solana acquisition strategy.
The stock moved only marginally that day, closing at $0.068 after a brief 3% rise, and ended last week at $0.073.
A company spokesman told the ASX her request “did not match word-for-word” the policy’s requirements but stressed that DigitalX remains committed to enforcing its rules, using the episode as an opportunity to improve processes.
The ASX also examined the company’s dealings with Antanas Guoga, who signed a strategic advisory agreement with DigitalX in December 2024, before Ieva’s appointment.
He was granted 25 million options exercisable in two years and began buying shares in January, now holding roughly 15% of the Perth-based firm.
He is also chairman and major shareholder of Canadian-listed SOL Strategies, which in May secured a 12-month exclusive Solana staking agreement with DigitalX.
DigitalX defended the partnership, saying SOL Strategies offered better performance, higher staking rewards, and lower fees than competitors.
“The non-conflicted directors of the company are comfortable that the transaction undertaken was in the interests of DigitalX shareholders,” the spokesman said, adding that Antanas has invested significant capital but holds no operational role in the company.
In July, DigitalX secured AU$20.7 million ($13.5 million) in strategic investment from global crypto players to expand its Bitcoin treasury.
The strategic investment saw major participants including Animoca Brands, UTXO Management and ParaFi Capital.
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