Solana News Today: Galaxy Multicoin Jump Crypto Plan $1B Solana Treasury Fund

Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly working together on a $1 billion initiative to build a dedicated Solana treasury, according to a Bloomberg report citing unnamed sources[1]. The move would mark the largest institutional investment in Solana (SOL) to date, forming what could become the most substantial reserve for the cryptocurrency. Cantor Fitzgerald has been engaged as the lead financial advisor for the fundraising effort, which involves acquiring a publicly traded entity to convert it into a digital asset-focused treasury[1].

The plan has received backing from the Solana Foundation, further solidifying the institutional confidence in the blockchain network[1]. This development comes as Solana continues to rebuild its market standing after the fallout from the FTX collapse. As of the latest data, Solana ranks as the sixth-largest cryptocurrency by market capitalization, with a 30-day price increase of 6.6% and a current valuation near $200 per token according to CoinGecko[1].

If completed, the new $1 billion Solana treasury would significantly exceed existing reserves. The current largest corporate Solana treasury is held by Upexi, a supply chain management firm, which controls over 2 million SOL, valued at approximately $400 million. Upexi generates returns for its stakeholders through staking yields and discounted locked tokens[1]. DeFi Development Corporation follows with a reserve of 1.29 million SOL, worth about $240 million[1]. Meanwhile, Bitcoin mining firm Bit Mining recently announced plans to raise $200–$300 million to build its own Solana treasury[1].

The collaboration between Galaxy, Multicoin, and Jump Crypto represents a major milestone in institutional adoption of Solana. Such a large-scale, coordinated effort could reinforce Solana’s position in the crypto market and establish it as one of the most heavily backed digital assets within institutional portfolios. The success of the initiative will depend on the execution of the fundraising plan and the strategic transformation of the chosen public entity into a Solana-focused treasury vehicle[1].

Source: [1]Galaxy Digital, Multicoin, Jump Crypto plan $1B Solana fund: Report...................(https://btc-pulse.com/galaxy-digital-multicoin-jump-crypto-plan-1b-solana-fund-report/)