Galaxy Digital, Multicoin Capital, and Jump Crypto are in pursuit of raising $1 billion to form a treasury specifically for Solana’s SOL token. According to a report from Bloomberg, these three crypto entities have teamed up and appointed Cantor Fitzgerald as their lead banker. Their objective is to acquire a listed firm and establish a digital asset treasury company. Furthermore, they are planning to take charge of the Toronto-listed SOL Strategies, which is currently pursuing a Nasdaq listing.

Key Points:

• The partnership has been initiated to enhance Solana’s asset treasury.
• They aim to create a robust digital treasury leveraging the success strategies put forth in the crypto space.
• This deal aligns with recent trends of firms adopting similar treasury strategies as seen with leading figures in the digital asset sector.

At press time, responses from Galaxy, Multicoin, and Jump are pending regarding this initiative. The transaction is expected to be finalized in early September, already receiving approval from the Solana Foundation.