DeFi Development Corp, which recently changed its name from Janover, has significantly increased its treasury with an additional $9.9 million investment in Solana’s SOL, now totaling 317,273 tokens valued at approximately $48 million. The acquisition was facilitated via BitGo’s over-the-counter desk, allowing the firm to purchase locked SOL tokens at discounted rates below spot pricing.
The company’s move to shift focus from real estate to the Solana ecosystem aims to provide U.S. investors direct exposure to the cryptocurrency. This shift follows the acquisition of majority ownership by a group of former Kraken executives, including CEO Joseph Onorati.
Key Points:
- DeFi Development Corp has bolstered its holdings to increase its assets in Solana.
- This strategy reflects a broader trend among corporations providing traditional finance investors exposure to crypto assets.
“These acquisitions allow us to deepen our alignment with the Solana ecosystem and accumulate SOL at advantageous prices,” stated Onorati.
In a similar vein, SOL Strategies led by Leah Wald has made headlines with plans to accelerate its investments in Solana with a new convertible note facility worth up to $500 million.
