Pineapple Financial Launches $100 Million Fund for Injective Treasury
NYSE-listed Pineapple Financial has launched a $100 million fund to acquire Injective (#INJ), marking it as the first public company to hold INJ tokens. The funds were raised through private placements for its Injective treasury strategy.
- The treasury aims to achieve approximately 12% annual yield through staking.
- This move corresponds with increased institutional interest in Injective, including an SEC review of Canary Capital's staked INJ ETF application.
- Pineapple Financial's announcement follows broader cryptocurrency adoption trends in the US, driven by favorable regulatory changes.
- Other notable corporate treasury holdings include Sharplink Gaming with 797,000 ETH and Bitmine with 1.8 million ETH.
- Binance's BNB coin treasury has grown after BNB Network Company purchased 200,000 BNB tokens for $160 million.
- Solana attracted over CAD $1 billion from Canadian firm Sol Strategies.
As of now, the price of Injective is around $12.8, recovering from earlier lows due to Pineapple's treasury announcement. Key resistance levels are at $13.8 and $15.5, while support is identified at $12.0 and $11.5.