Janover (JNVR), the actual estate-focused fintech firm with a Solana (SOL) treasury technique, has been renamed to DeFi Improvement Corp and bought one other $11.5 million value of SOL tokens, the agency mentioned on Tuesday.
The transfer brings the corporate's complete SOL holdings to 251,842, together with staking rewards, the corporate mentioned. That's valued at round $36.5 million, with SOL at the moment buying and selling round $145.
JNVR shares had been down 2.5% right this moment at $38.3, effectively under final week's peak simply shy of $80. Nevertheless, the inventory remains to be up over 800% since adopting the crypto treasury technique. SOL superior almost 5% over the previous 24 hours, with the broader crypto market climbing greater.
The acquisition was a part of the Boca Raton, Florida-based firm's new crypto guess to place itself as the primary U.S.-listed firm with a treasury technique centered on Solana and its native token SOL.
As a part of the technique, the agency seeks to build up SOL and function a number of validators to safe the blockchain. The pivot occurred after a staff of former executives of crypto alternate Kraken purchased a majority stake within the agency earlier this month.
Learn extra: Janover Takes Web page From Saylor Playbook, Doubling SOL Stack to $20M as Inventory Soars 1700%
The acquisition was made utilizing funds from a $42 million financing spherical the corporate accomplished earlier this yr. Primarily based on the most recent figures, every share of the corporate represents 0.17 SOL, up 62% from its final crypto buy, in accordance with the press launch.
The agency may even change its ticker to DFSV on the Nasdaq alternate at a future date to replicate its new identify.
Final week, the corporate introduced a strategic partnership with Kraken with plans to delegate a part of the alternate's SOL holdings to stake to validators operated by DeFi Improvement Corp. The agency additionally teamed up with BitGo to accumulate locked tokens through over-the-counter markets.
