An internal review has found no breach of trading policy by recently appointed DigitalX director Ieva Guoga. Her on-market share purchases began the week of her appointment and continued periodically over the following month.
Key Takeaways:
- The ASX queried DigitalX over director Ieva Guoga’s 3 million share, which occurred in the weeks following her board appointment.
- DigitalX said she sought and obtained written trading approval from both the company secretary and the chair.
- The company confirmed the trades were unrelated to its later BTC-for-SOL swap.
According to The Australian Financial Review, the ASX sought clarification over Ieva Guoga’s acquisition of DigitalX shares in the weeks following her 20 May board appointment, which totalled more than 4 million shares purchased at market prices.
The buying began on the day of her appointment and appears linked to her joining the board, reflecting her intention to align financially with shareholders.
The trades — including the 3 million shares bought before 29 May — were approved in writing by the company secretary and chair, and were unrelated to the company’s later $11.6 million Solana token purchase, which was funded through a Bitcoin swap.
DigitalX stated that no laws or policies were breached, and the ASX did not progress its inquiry, noting no share price movement on the day of the announcement with market opening and closing at the same price of $0.068.
DigitalX Appoints Ieva Guoga to Board Amid Leadership Reshuffle
Ieva, 26, a University of Melbourne economics graduate and aspiring thought leader on LinkedIn, 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.
On the day of the announcement, DigitalX shares opened and closed at $0.068, with no change to the closing price, indicating an absence of any material market impact and underscoring the lack of a substantive basis for further regulatory action.
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.
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.
ASX Probes DigitalX Dealings With Major Shareholder Antanas Guoga
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.
Since the period in question, DigitalX has shifted to a Bitcoin-first, Bitcoin-only strategy, selling its Solana holdings for Bitcoin and ending its staking partnership with SOL Strategies. Guoga added that she has undergone rigorous compliance training as part of her governance development.
According to public filings and reporting by The Australian Financial Review, Ieva Guoga sought and obtained written approval via email from the company secretary and chair to buy shares after the ASX CHESS system was temporarily offline, reflecting an intention to align financially with other shareholders.
Public records also detail her trading activity during this period:
In July, DigitalX secured AU$20.7 million ($13.5 million) in strategic investment from global crypto players to expand its Bitcoin treasury. Now the company has ambitious desires to acquire 2100 BTC by 2027.
The strategic investment saw major participants including Animoca Brands, UTXO Management and ParaFi Capital.
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