DeFi Growth Corp. (previously Janover Inc.) is making an attempt to lift $1 billion by promoting securities to purchase Solana (SOL) over time.
Earlier in the present day, a report from Coinbase claimed that the agency had already raised $42 million for SOL purchases with comparable gross sales. Apparently, these operations have been solely the start of a a lot bigger ambition.
DeFi Growth Bets Onerous on Solana
In a pattern that the crypto neighborhood is looking “Solana MSTR,” company actors have been shopping for SOL tokens.
In line with in the present day’s SEC submitting, DeFi Growth is making an attempt to fund this Solana acquisition via the identical methodology as Technique:
“[DeFi Development] has adopted a treasury coverage beneath which the principal holding in its treasury reserve on the stability sheet will probably be allotted to digital belongings, beginning with Solana. The Board of Administrators accepted the Firm’s new treasury coverage on April 4, 2025, authorizing long-term accumulation of Solana,” the submitting claims.
Along with promoting as much as $1 billion in securities, DeFi Growth plans to register as much as 1,244,471 shares of frequent inventory for potential resale by present stockholders to make use of this liquidity to purchase Solana.
Particular particulars about every providing will seem in a complement offered on the time of sale.
Coinbase seen DeFi Growth’s Solana ambitions and described them in a report launched earlier in the present day. The report described the corporate’s efforts to lift $42 million in convertible notes, utilizing these funds to construct an SOL reserve.
The corporate lately modified its identify from Janover, and it now trades on the Nasdaq beneath the image DFDV. DeFi Growth additionally goals to function a number of Solana validators, enabling it to stake its treasury belongings, take part in securing the community, and earn rewards that may be reinvested.
Company Solana funding is tiny in comparison with Bitcoin, however DeFi Growth may be its first whale. MicroStrategy’s plan to turn into an enormous BTC holder didn’t simply change its personal character; it additionally reworked Bitcoin.
The corporate now serves as a significant pillar of public confidence in Bitcoin. Maybe DeFi Growth may have the same impression on SOL.
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