Solana News Today: Galaxy Jump Multicoin to Raise $1 Billion for Solana Treasury Firm

Galaxy Digital, Jump Crypto, and Multicoin Capital are in advanced talks to raise $1 billion for the creation of a digital asset treasury firm focused on accumulating Solana (SOL) tokens, according to a report from Bloomberg [1]. The proposed firm aims to acquire a publicly traded company and restructure it as a vehicle for holding and managing a substantial Solana treasury. The transaction is expected to close as early as September, with Cantor Fitzgerald LP serving as the lead banker for the deal [1].

The initiative is supported by the Solana Foundation, a nonprofit organization dedicated to advancing the Solana blockchain network. This move signifies a strong institutional endorsement of Solana, which has been growing in prominence due to its role in decentralized finance (DeFi) and the 2024 memecoin boom. According to Nick Ruck, director at LVRG Research, the influx of capital could reduce the circulating supply of Solana, boost market sentiment, and encourage more developer activity and ecosystem investment [1].

This development follows a broader trend of institutional interest in digital assets, particularly beyond Bitcoin and Ethereum. Inspired by the corporate treasury strategies of figures like Michael Saylor, more firms are diversifying into altcoins such as Solana, BNB, and XRP. The Block’s data shows that public Solana treasury companies hold approximately 3.44 million SOL, with Upexi recently securing a $500 million credit agreement to purchase additional tokens [1].

Solana has emerged as one of the leading cryptocurrencies, currently holding the sixth-largest market capitalization with a valuation of $108.9 billion. The price of one SOL is trading near $200, reflecting a 7.7% increase over the past month and a 26.8% gain in the past year [1]. The potential establishment of the largest institutional Solana treasury has drawn attention from major crypto news platforms, including CoinDesk, Cointelegraph, and FinanceFeeds, which highlight the scale and ambition of the project [2][3][4].

The deal, if finalized, could represent one of the most significant institutional investments in the Solana ecosystem. By leveraging the combined influence of three major crypto firms and the Solana Foundation, the project aims to further solidify Solana’s position in the global digital asset landscape and encourage greater institutional participation.

Source:

[1] The Block – Galaxy, Jump and Multicoin seek $1 billion to create Solana treasury firm – [https://www.theblock.co/post/368081/galaxy-jump-multicoin-solana-treasury](https://www.theblock.co/post/368081/galaxy-jump-multicoin-solana-treasury)

[2] CoinDesk – Crypto Giants Galaxy, Jump, Multicoin Look to Raise $1B – [https://www.coindesk.com/business/2025/08/25/crypto-giants-galaxy-jump-and-multicoin-seek-usd1b-to-raise-largest-solana-treasury-report](https://www.coindesk.com/business/2025/08/25/crypto-giants-galaxy-jump-and-multicoin-seek-usd1b-to-raise-largest-solana-treasury-report)

[3] Cointelegraph – Galaxy Digital, Multicoin, Jump Crypto plan $1B Solana fund – [https://cointelegraph.com/news/galaxy-digital-multicoin-jump-crypto-1b-solana-treasury](https://cointelegraph.com/news/galaxy-digital-multicoin-jump-crypto-1b-solana-treasury)

[4] FinanceFeeds – Galaxy Digital And Multicoin Seek To Build Largest Solana Treasury – [https://financefeeds.com/galaxy-digital-and-multicoin-seek-to-build-largest-solana-treasury-with-1b-fundraise/](https://financefeeds.com/galaxy-digital-and-multicoin-seek-to-build-largest-solana-treasury-with-1b-fundraise/)