Janover Plunges 12.41% Amid Solana Staking Strategy

On April 8, 2025, Janover experienced a significant drop of 12.41% in pre-market trading, marking a notable shift in its stock performance.

Janover has undergone a strategic transformation, with former Kraken executives acquiring a majority stake in the company. This new leadership team has implemented a digital assets treasury strategy, with a primary focus on investing in Solana's SOL token. The company has successfully raised approximately $42 million through an offering of convertible notes and warrants, with proceeds earmarked for acquiring digital assets within the Solana ecosystem.

The new management team, led by Joseph Onorati as Chairman and CEO, and Parker White as Chief Investment and Operating Officer, aims to bridge the gap between traditional finance and decentralized finance (DeFi). The company plans to acquire and stake SOL by purchasing Solana validators, which will generate revenue through SOL rewards. This strategy positions Janover to capitalize on the multi-billion dollar staking industry on Solana while continuing its shift toward a SaaS business model.

Founder Blake Janover and CFO Bruce Rosenbloom will remain actively involved to ensure operational continuity and service quality. The company also plans to change its name to DeFi Development Corporation, reflecting its strategic shift toward decentralized finance initiatives. The new treasury policy and strategic investments in the Solana ecosystem are expected to drive future growth and innovation for Janover.