Galaxy Digital, Multicoin Capital and Jump Crypto Seek $1 Billion for Solana Treasury
Galaxy Digital, Multicoin Capital, and Jump Crypto are seeking to raise approximately $1 billion for a Solana-focused treasury. They have engaged Cantor Fitzgerald as the lead banker for the deal.
The strategy includes acquiring a publicly traded company to create a dedicated digital asset treasury business, potentially establishing the largest reserve fund targeting Solana, surpassing existing funds.
The plan is supported by the Solana Foundation, with expectations for completion in early September.
Current market conditions show Solana trading just below $200, reflecting a 10% increase over the past week. Analyst Ali Martinez indicated that a break above $211 could trigger a rise to $222.
Key Developments
- Galaxy Digital previously raised $620 million to acquire Solana tokens from FTX.
- Corporate adoption of crypto as a treasury asset has surged, with Bitcoin holdings nearly doubling among publicly listed firms from December 2024 to June 2025.
- Corporations like Sol Strategies Inc. and Upexi are accumulating significant Solana holdings.
- AI-powered DeFi Development Corp announced a SOL reserve exceeding $218 million.
Subbd Presale Update
While interest in Solana treasuries grows, Subbd has raised over $1 million in its presale for an AI-powered content subscription platform, seeking to disrupt the $85 billion global content market.
- Current Price: $0.05625
- Amount Raised: $1.05 million
- Ticker: SUBBD
- Blockchain: Ethereum