Defi Development Corp (JNVR), formerly known as Janover, added an additional $9.9 million to Solana’s SOL to its corporate finances, pushing Crypto Hollitings to 317,273 SOL or about $48 million, the company said Wednesday.
Purchases made through Bitgo’s commercial desks include a locked sol tranch. These are tokens that are usually tied to chains or bankruptcy proceedings, and although they cannot be moved by chains yet, they are cheaper than the spot price.
“Getting access to locked discounted inventory through trusted partners like Bitgo helps us to build up some of our SOL prices below SOL, whilst gaining greater consistency with the Solana Ecosystem,” CEO Joseph Onorati said in a statement.
Renamed Defi Development earlier this week, Janover began as a real estate data and software company, but has moved to its position as a public US company that provides direct exposure to investors to the Solana ecosystem through its balance sheet. The pivot came after a group of former executives of Crypto Exchange Kraken, including Honorati, acquired a majority stake in the company this month.
The company noted that the latest purchases meant that 1.5 million outstanding shares of each are now 0.22 Sol, an up 40% from previous disclosures.
Companies have bought SoL to provide TradFi investors with exposure to tokens, and this trend has gained momentum recently. Sol Strategies has been captured by Sol Strategies, a publicly-owned company run by CEO Leah Wald, co-founder of digital asset manager Valkyrie Investments. Today, the company announced that it has secured a convertible notebook facility of up to $500 million to increase its investment in the Solana network.
Read more: Janover takes pages from Saylor Playbook, doubles Sol Stack to $20 million 1700%
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