US EditionCrypto Giants Galaxy, Jump, Multicoin Look to Raise $1B for Buying Solana's SOL: Report
Galaxy Digital, Multicoin Capital, and Jump Crypto aim to raise $1 billion to form the largest Solana treasury, signaling strong institutional confidence and boosting Solana's corporate adoption.
- On Monday, Galaxy Digital, Jump Crypto and Multicoin Capital sought $1 billion to build a Solana treasury by acquiring and restructuring a publicly listed company.
- Following a broader industry trend, many listed firms have adopted single-token treasuries, with Upexi holding over 2 million SOL and generating value through staking, while Mercurity Fintech Holding and Classover Holding secured $200 million and $550 million deals respectively.
- Using current market math, a $1 billion buy equates to around 5.102 million SOL at $196 per token, more than doubling any existing Solana treasury size.
- Market watchers note that large-scale accumulation would reduce circulating supply, boost sentiment and increase liquidity for SOL, which trades near $200 with a 6.6% gain over the past month.
- Institutional interest in Solana is growing, as evidenced by the Solana Foundation backing the fund to accelerate developer activity and attract institutional investors, signaling expansion beyond Bitcoin and Ethereum.
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22 Articles
22 Articles
Galaxy, Jump, Multicoin Seek $1 Billion for Buying Solana Token
Galaxy Digital, Multicoin Capital and Jump Crypto are in talks with potential backers about raising roughly $1 billion to accumulate Solana, in what would be the largest treasury dedicated to the digital token.
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Galaxy, Multicoin, and Jump Crypto Plan $1B Vehicle for a Publicly-Traded Solana Treasury
Galaxy, Multicoin, and Jump are planning a $1 billion Solana Treasury initiative. The initiative is expected to kick off at the beginning of September. Upcoming institutional adoption will boost Solana’s demand. Crypto heavyweights Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly planning to raise $1 billion to create a new SOL treasury. The plan, which is said to be in its advanced stages, is focused on accumulating Solana (SOL…
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Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
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- 67% of the sources are Center
67% Center
L 33%
C 67%
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