DeFi Development Corp Targets $1 Billion To Build Solana Treasury
The post DeFi Development Corp Targets $1 Billion To Build Solana Treasury appeared on BitcoinEthereumNews.com.
DeFi Development Corp aims to raise as much as $1B to get more Solana tokens and manage validator nodes. The company has already secured $48.2 million worth of SOL and aims to follow in the footsteps of MicroStrategy. Recent acquisitions in Solana have been reported to have positively impacted the firm’s stock. DeFi Development Corp, formerly Janover Inc., plans to raise $1bn to significantly increase investment in SOL. In a Form S-3 registration statement filed with the SEC on April 25, the Nasdaq-listed firm plans to use the proceeds to acquire more SOL and incorporate validator services into the network. After a major change in management involving the top executives from Kraken, the company’s direction has transitioned from real estate financing to a crypto-related business model. Under this new strategy, DeFi Development Corp intends to follow and even emulate what MicroStrategy did with Bitcoin in the Treasury Model. New Treasury Policy Anchored on Solana Accumulation On April 4, the firm’s board passed a Solana-centered treasury policy, signaling a long-term investment bet on the altcoin. Under this approach, DeFi Development Corp intends to acquire a significant stake in SOL and run validator nodes to ensure network reliability and earn rewards. The firm’s most recent registration statement filed with the SEC relates to a level three shelf offering, through which the company can offer, from time to time, common and preferred shares, as well as debt securities, as well as warrants. A portion of the offering also provides for an offering of up to 1,244,471 shares by selling shareholders. DeFi Development Corp currently has about $48.2 million worth of SOL, including rewards from initial validator operations. Former Kraken executive Parker White, who now serves as the chief investment officer of the firm, is one of the validators that runs a $75 million…
Filed under: News - @ April 27, 2025 12:26 pm