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Software firm Janover has made a major move in the crypto space by purchasing 80567 Solana tokens worth $10.5 million. This marks its third SOL acquisition as part of a broader digital treasury strategy. The announcement comes after Janover shares reached an all-time high of nearly $66 before pulling back slightly. The stock remains up more than 1200 percent this year.
With this latest purchase Janover now holds around 163651 SOL valued at roughly $21 million. The company will stake its Solana assets immediately to earn rewards and support the blockchain network. Funding for the acquisition came from a recent $42 million financing round. Janover also plans to run one or more Solana validators to enhance its staking efforts.
The firm is undergoing a transformation under new leadership from former Kraken executives. A rebrand to DeFi Development Corporation is in the works along with a ticker change. Janover aims to bridge traditional and decentralized finance through strategic crypto investments.
