Nasdaq-Listed DeFi Firm Aims to Build $100M Solana Reserve
DeFi Development Corp, formerly Janover and now trading on Nasdaq, is gearing up to expand its Solana holdings by following a strategy reminiscent of MicroStrategy’s Bitcoin playbook.
The firm has revealed plans to raise $100 million through the sale of convertible senior notes, with the proceeds earmarked for building a Solana reserve, stock buybacks, and broader corporate needs.
The offering will target qualified institutional investors under Rule 144A.
This comes after a prior $1 billion IPO filing was pulled earlier this year due to a regulatory filing issue. At the time, part of the capital was also intended for Solana acquisitions.
DeFi Development’s aggressive push into Solana signals growing corporate conviction in the blockchain’s long-term value.
With Solana’s expanding DeFi and NFT ecosystems and potential ETF interest on the horizon, the firm appears to be positioning itself early ahead of what could be a broader wave of institutional adoption.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
