ASX-Listed DigitalX Denies Policy Breach in Director Trades Probe

ASX-listed digital asset investment manager DigitalX Limited has rejected suggestions of policy breaches following the Australian Securities Exchange’s query of director Ieva Guoga’s recent share purchases and her dealings with major shareholder Antanas “Tony G” Guoga, her father.

The ASX has reportedly asked DigitalX to explain the timing of Guoga’s purchase, according to The Australian Financial Review. 

The exchange alleges Ieva bought 3 million shares ahead of a May 29 announcement regarding an $11.6 million Solana token (SOL) acquisition, as well as the nature of transactions involving her father.

In response to the allegations, a spokesperson for Guoga’s company told Decrypt the trades did comply with both its securities trading policy and ASX listing rules, echoing a previous 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 company said.

Trading policies of that kind typically lay out a set of rules that tell company insiders when and how they can trade the company’s shares.

In DigitalX’s case, the policy outlines approved trading windows and requires directors to get clearance from senior officers before buying or selling shares. That’s meant to ensure trades are carried out only when there is no undisclosed information that could affect the share price.

“Whilst the board is comfortable that no illegality occurred, it has used this circumstance as a chance to improve its processes, as any good company should,” a DigitalX spokesperson told Decrypt.

The denial comes as DigitalX announced on Monday, in an ASX filing, that it plans to expand its Bitcoin holdings from about 500 BTC to 2,100 BTC by 2027 under its “21 Hundred” strategy, positioning the alpha crypto as the core of its treasury.

Ieva’s father, Antanas Guoga, a former member of the European Parliament and ex-professional poker player, is DigitalX’s largest shareholder with about 15% of the company. 

He also chairs Canadian-listed SOL Strategies, which has an exclusive 12-month deal to provide Solana staking services to DigitalX.

Guoga similarly facilitated a funding deal for ASX-listed biotech firm Opyl earlier this year, providing a non-dilutive loan to finance the purchase of Bitcoin for its treasury via the DigitalX Bitcoin ETF. Guoga serves as a non-executive director at Opyl.

DigitalX has scheduled a September 5 shareholder meeting to vote on issuing shares and warrants to Ieva and Antanas Guoga as part of a related-party placement.

The ASX did not immediately respond to requests for comment.