DeFi Development Plans to Raise $1 Billion to Buy More Solana

DeFi Development Corp. (formerly Janover) is intensifying its strategy to acquire more Solana (SOL) for its treasury, supported by a plan to offer up to $1 billion in securities for various corporate purposes. They've already invested around $48.2 million in SOL and intend to operate validators on the Solana blockchain for staking rewards. Following a leadership overhaul, including hiring former Kraken executives, shares of DeFi Development surged over 970%, highlighting a growing trend of corporations adopting cryptocurrencies for balance sheet investments. Learn more about their ambitious plans and the implications for the DeFi space. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk