Solana's Price Drops 9.56% as Institutions Plan $1 Billion Treasury

Solana's latest price was $186.76, down 9.56% in the last 24 hours. Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly working to raise $1 billion for a dedicated Solana treasury. The plan would create the largest structured reserve of Solana to date, signaling deep institutional confidence in the blockchain. The firms have tapped Cantor Fitzgerald LP as lead banker on the deal, intending to create a digital asset treasury company by acquiring a publicly traded entity. The proposed fund would focus exclusively on accumulating and holding Solana at scale, a move designed to stabilize price dynamics while signaling confidence in the blockchain’s long-term trajectory. Solana has gained traction as one of the fastest and most cost-efficient layer-1 networks, powering decentralized exchanges, NFT markets, and consumer-facing applications. By pooling institutional capital into a $1 billion reserve, the three firms would not only take a sizable position in Solana’s ecosystem but also set a precedent for structured, Wall Street-style investment vehicles in crypto. A crypto treasury of this magnitude can absorb supply during periods of volatility, reduce selling pressure, and provide developers and investors greater confidence to build on Solana. For Galaxy, Multicoin, and Jump Crypto, the initiative represents both a bet on Solana’s technical edge and an effort to shape its financial infrastructure.

Sharps Technology has secured $400 million via a PIPE financing round to establish the largest Solana digital asset treasury, with significant involvement from the Solana Foundation and institutional investors. This move reflects increasing institutional interest in Solana, causing Sharps Technology's stock to rise markedly, highlighting the market's positive response to their strategic pivot into digital assets. Sharps Technology raised $400 million in a PIPE deal to create the largest Solana digital asset treasury, attracting institutional investors and support from the Solana Foundation. This move signifies a major endorsement of Solana, impacting both its institutional credibility and market dynamics. Sharps Technology, traditionally a medical device company, has pivoted to digital assets, acquiring $400 million through private equity to enhance its Solana holdings. The deal includes significant institutional participation. Key participants include ParaFi, Pantera, and CoinFund, highlighting the substantial commitment toward Solana. Sharps' new strategy positions it alongside major crypto-centric enterprises. Following the announcement, Sharps Technology's stock surged by more than 70%, indicating strong market approval. This funding is likely to bolster Solana's market stature. The financial input reflects increased confidence in Solana's future potential, aligning with institutional trends favoring blockchain and DeFi innovations. Sharps' approach mirrors the MicroStrategy model, reminiscent of strategic equity use to acquire significant crypto assets. Such precedents suggest potential stock benefits and market shifts. The Solana Foundation's commitment to provide up to $50 million in discounted SOL underscores the strategic importance of this treasury initiative. Experts predict that this initiative could accelerate Solana's development, based on parallel trends seen in other blockchain projects with similar fund allocations.

On Sunday, a wallet swapped DAI for USDC, bridged the funds onto Solana, and bought 38,126 SOL. Blockchain intelligence firm Arkham identified the wallet as connected to a large-scale Coinbase-related theft, while Lookonchain maintains it is tied to more than $300 million siphoned from exchange users through elaborate scams. This isn’t the first time the wallet has been spotted making large trades. In July, the same address purchased nearly 5,500 ETH across two transactions worth around $15 million. Just weeks earlier, it had liquidated over 26,000 ETH for more than $69 million, sparking speculation that the funds were part of an effort to obfuscate stolen assets. On-chain investigator ZachXBT previously estimated that as much as $330 million has been drained from Coinbase users via advanced social engineering attacks, underscoring the scale of the problem. The Coinbase-linked wallet is not alone in using illicit gains to speculate. Lookonchain also highlighted activity from the Radiant Capital hacker, who pulled off a $58 million exploit in late 2024. That wallet has since ballooned to over $105 million in value after a series of well-timed ETH trades. The attacker reportedly bought nearly 5,000 ETH last week and sold most of it days later for a profit of $2.7 million, adding to a growing stash of 21,957 ETH.

Crypto gaming has seen plenty of multimillion-dollar raises, but in many cases, that funding and hype hasn’t amounted to much. It’s not a guarantee of future success, by any means. Funding in the crypto gaming sector is also down 93% year-over-year, meaning there isn’t as much of an appetite for funding large dev teams or splashy marketing budgets right now. But builders are still finding ways to ship projects with lean teams, turning visions from the GameFi trenches into reality. Jakpot Games, which is building out its Solana-based site with just three people in its core team, is one of those projects. Their arcade-like platform launched last week, letting players spend the platform’s JAKPOT token to try their hand at getting a high score in one of a few different browser-based games. Rex Runner and Speed Racer, which both involve speeding through pixelated environments, are the two titles currently on offer. Currently, each Jakpot tournament has a countdown — meaning players have anywhere from 12-24 hours to try to reach the top of a game’s leaderboard in order to win some tokens. Users connect to the site via crypto wallet tool Privy, and buy the platform’s token using SOL. 85% of every pot is split among the top scorers. 10% goes to the team’s vault for marketing and development, and 5% rolls over into the next round’s pot, Jakpot cofounder Gannon Breslin, who previously authored The Drop, explained to me in an interview. Like many gaming upstarts, Jakpot has already had to fend off an onslaught of cheaters who sought to unfairly exploit the platform for financial gain. “They cheated in ways we didn’t even imagine possible,” Breslin said, adding that continuously monitoring and expanding upon their existing anticheat is a top priority. Since its launch last week, Jakpot has seen 7,316 games played, 16.1 million game credits transferred, and 26.7 million JAKPOT paid out in total. The team is planning to add a “Degen” mode soon with higher token buy-ins per play to raise the stakes for those who want it. They’re also building out custom game lobbies and are actively exploring which games they might add to their platform next. As the Jakpot team continues to build, they’ll have to compete for Crypto Twitter’s attention with the likes of the latest trend-of-the-moment Football.Fun, plus the Abstract gaming ecosystem and existing gaming platforms like Remix.

The digital content landscape is constantly evolving, and a groundbreaking shift is underway. Access Protocol, a prominent Solana-based content monetization protocol, recently announced an exciting development via X: the official rollout of creator coins on Solana. This move, powered by Raydium’s Launchpad, represents a significant leap forward for creators seeking innovative ways to engage with their audience and build sustainable revenue streams. At its core, Access Protocol aims to redefine how content creators monetize their work. Traditionally, creators rely on subscriptions, advertising, or direct donations. However, the introduction of creator coins offers a fresh, decentralized alternative. These unique digital tokens allow fans to directly invest in their favorite creators, fostering a deeper connection and shared economic incentive. A key innovation is the ‘Proof of Audience’ mechanism. This system rewards early supporters who demonstrate genuine engagement, ensuring that those who believe in a creator from the start are recognized and potentially benefit from their growth. A substantial 10% of the total token supply is allocated to initial backers. This provides a tangible incentive for fans to get involved early and become integral to a creator’s journey. To ensure long-term alignment and stability, 20% of the token supply vests to creators over a two-year period. This mechanism encourages sustained content creation and community building, rather than short-term gains. The launch of creator coins by Access Protocol brings several compelling advantages for creators and their communities. This model moves beyond traditional gatekeepers, offering creators more control and a direct line to their most dedicated fans. For creators, the benefits are clear: Direct Monetization: Creators can build an independent economy around their content, reducing reliance on centralized platforms that often take a large cut. Enhanced Community Engagement: Fans become stakeholders, creating a stronger sense of community and loyalty. This shared ownership can lead to more active participation and support. New Revenue Streams: Beyond direct sales, creators can benefit from the potential appreciation of their coins as their audience grows and their content gains popularity. For supporters, the model offers a unique opportunity to directly back creators they admire, potentially gaining financial rewards while deepening their connection. Access Protocol chose Solana for its robust infrastructure, a decision that underpins the efficiency and accessibility of these new creator coins. Solana is renowned for its high transaction speeds and remarkably low fees, which are crucial for micro-transactions and frequent engagement in a content monetization model. Moreover, the integration with Raydium’s Launchpad is a strategic move. Raydium, a leading automated market maker (AMM) and liquidity provider on Solana, provides the necessary infrastructure for seamless token distribution and liquidity. This partnership ensures that the creator coins can be launched and traded efficiently, offering a smooth experience for both creators and their communities. The introduction of Access Protocol’s creator coins on Solana marks a pivotal moment in the evolution of content monetization. By leveraging blockchain technology, creators can now forge direct, meaningful connections with their audiences, fostering a new era of economic empowerment and community engagement. This innovative approach not only benefits individual creators but also contributes to the broader ecosystem of decentralized finance and digital content creation. As more creators adopt this model, the potential for widespread adoption and impact becomes increasingly apparent, heralding a future where content creators and their supporters can thrive together in a decentralized, equitable landscape.

Recent institutional developments highlight significant capital allocation towards Solana. Sharps Technology has secured $400 million through a PIPE financing arrangement, positioning itself to establish the world's largest Solana treasury. This initiative involves participation from investment firms including ParaFi. Concurrently, Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly collaborating to raise a $1 billion fund dedicated specifically to Solana treasury development, signaling strong institutional confidence in the ecosystem. Pantera Capital is actively pursuing up to $1.25 billion in funding. The capital would facilitate the conversion of a public company into an entity solely focused on Solana investment, underscoring the deepening institutional engagement within the Solana ecosystem. These concentrated treasury efforts follow an emerging trend of enterprises integrating cryptocurrency into their corporate financial strategies.

Security concerns emerged within the ecosystem as blockchain analytics identified a crypto wallet associated with the historic $300 million Coinbase hack conducting substantial transactions. On August 25, 2025, this wallet acquired approximately $8 million worth of Solana tokens utilizing a cross-chain bridge, drawing attention to ongoing fund movements linked to major security breaches. Technical perspectives on Solana's capabilities were emphasized during recent discourse. In commentary shared widely via social media on August 25, 2025, Greg King highlighted views regarding Solana's infrastructure advantages. King specifically cited Solana's superior transaction speed relative to other major blockchains as a key driver for its potential dominance in the stablecoin sector. He characterized Solana not merely as a participant, but as representing "the future of stablecoins," positioning it as a foundational layer for large-scale stablecoin deployment and adoption due to its performance characteristics. This viewpoint spotlights the blockchain's architectural approach as a critical factor in the evolving landscape for stable digital assets.