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Altcoins In a move few expected from one of Wall Street’s most traditional powerhouses, Ken Griffin, the billionaire founder of Citadel, has taken a position in DeFi Development Corp (DFDV) – a company deeply tied to the Solana ecosystem. Regulatory filings released this week show that Griffin now owns a 4.5% stake in the firm, equal to roughly 1.3 million shares. His hedge fund group, through Citadel Advisors LLC, also disclosed a separate holding of 800,000 shares, bringing the broader Citadel family’s total exposure to about 2.1 million shares in DeFi Development. Wall Street’s Reluctant Traditionalists Begin to Move Griffin, long regarded as one of the most skeptical voices on crypto, has rarely aligned himself with digital asset ventures. Yet, the disclosure underscores a larger shift on Wall Street – where skepticism is giving way to strategic engagement. Over the past year, a16z Crypto, BlackRock, JPMorgan Chase, and Fidelity have each advanced their digital asset footprints, reflecting what analysts describe as the “institutional migration phase” of crypto adoption. Citadel’s involvement appears to be another signpost on that timeline. Inside the DeFi Development Strategy Unlike exchanges or custodians, DeFi Development Corp operates more like a digital asset treasury, holding large amounts of Solana (SOL) as a balance sheet asset – similar to how companies hold cash or government bonds. Its approach centers on building long-term value around the Solana network rather than active trading. The firm has been among the most aggressive buyers of Solana this year. In early September, it spent over $117 million in just eight days acquiring SOL, lifting its total stash to more than 2.19 million tokens. Even after the recent market downturn, DeFi Development’s holdings remain profitable, with a cost basis around $236 million versus a current valuation near $400 million. Only Forward Industries, with roughly…

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Filed under: News - @ October 23, 2025 12:26 am