DeFi Development Corp Increases Solana Holdings to $48 Million

DeFi Development Corp (JNVR), previously Janover, has increased its corporate treasury by acquiring an additional $9.9 million in SOL, bringing its total holdings to 317,273 SOL, valued at approximately $48 million.

The acquisition occurred through BitGo’s over-the-counter desk and includes locked SOL, which are typically cheaper than market prices due to restrictions on movement.

CEO Joseph Onorati stated that this strategy allows them to buy SOL below market prices while strengthening ties with the Solana ecosystem.

Recently rebranded, DeFi Development aims to provide U.S. investors direct exposure to the Solana ecosystem. This shift follows a majority stake acquisition by former Kraken executives.

Following the latest purchase, each of the company's 1.5 million outstanding shares now represents 0.22 SOL, a 40% increase from prior figures.

Additionally, corporate interest in SOL is growing, as evidenced by SOL Strategies securing up to $500 million for investments in the Solana network.