Defi Development Corp (JNVR), previously known as Janover, added another $ 9.9 million to Solana’s Sol to his business treasury chest, which pushed the total crypto company to 317,273 Sol or about $ 48 million, the company said Wednesday.
The purchase, made through Bitgos Vischave Bureau, includes a tranche of locked SOL. These are tokens usually bound to fortress or bankruptcy procedures that cannot yet move in the chain, but are cheaper than spot prices.
“By gaining access to locked inventory with a discount through a trusted partner such as Bitgo, we can collect part of our SOL under market prices and at the same time deepen our coordination with the Solana Ecosystem,” said CEO Joseph Onorati in a statement.
Janover, who was renamed Defi Development earlier this week, started as a real estate data and software company, but has shifted to a positioning as an American public company that offers direct exposure to the Solana Ecosystem to investors through his balance sheet. The hinge happened after a group of former managers of Crypto Exchange Kraken, including Onorati, acquired a majority stake in the company this month.
The company noted that with the last purchase, each of the 1.5 million outstanding shares of the company now represents 0.22 Sol, an increase of 40% of earlier disclosures.
Companies have bought SOL to offer Tradfi investors exposure to the token, and this trend has recently been won at the momentum. SOL Strategies, the listed company helped by CEO Leah Wald-MEDE founder of Digital Asset Manager Valkyrie Investments Lediged the movement. Earlier today, the company announced that it had protected a convertible notification facility of a maximum of $ 500 million to increase its investments in the Solana network.
Safeguard: This article, or parts of it, was generated with the help of AI tools and assessed by our editorial team to guarantee the accuracy and compliance with our standards. See Coindesk’s full AI policy for more information.
