Solana Treasury Strategy Unveiled: Galaxy, Jump Crypto, and Multicoin Invest $1.6 Billion

Solana's price increased by 6% after Galaxy Digital, Jump Crypto, and Multicoin Capital announced a new treasury strategy. The $1.65 billion PIPE offering will establish a Solana treasury, with Galaxy Digital, Jump Crypto, and Multicoin Capital providing capital. Forward Industries aims to generate increased on-chain returns and enhance long-term shareholder value.

Solana's price surged by 6% following the announcement of a new treasury strategy by Galaxy Digital, Jump Crypto, and Multicoin Capital. The $1.65 billion private investment in public equity (PIPE) offering, led by these major players, is set to establish a Solana-focused digital asset treasury. This initiative reflects a growing trend of building crypto treasuries around major blockchain assets like Solana, Bitcoin, and Ethereum.

The announcement comes as Forward Industries, Inc. (NASDAQ: FORD) plans to raise $1 billion to acquire Solana tokens. The initiative, backed by the Solana Foundation, aims to close in early September. This deal is expected to position Forward Industries as the largest Solana-focused treasury, surpassing peers such as Upexi.

Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital, will become Chairman of the Board of Directors upon the PIPE's closing. Chris Ferraro, President and Chief Investment Officer of Galaxy, and Saurabh Sharma, Chief Investment Officer at Jump Crypto, will join as Board observers. The initiative underscores the long-term potential of Solana and the companies' commitment to building shareholder value by directly participating in its growth.

The PIPE sponsors represent a strategic alliance among three leading firms in the crypto space. Galaxy Digital, as one of the largest Solana validators and a scaled institutional digital asset platform, will offer its trading, lending, structuring, staking, and blockchain infrastructure services and solutions. Jump Crypto, committed to building critical infrastructure for the crypto ecosystem, is developing Firedancer, a high-performance validator client for Solana. Multicoin, founded in 2017, has been a leading investor in Solana since its early stages.

Forward Industries aims to generate differentiated on-chain returns and build long-term shareholder value through active participation in the Solana ecosystem. The company has selected Cantor Fitzgerald & Co. as the lead placement agent and Galaxy Investment Banking as co-placement agent and financial advisor. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Galaxy, while DLA Piper LLP (US) is acting as legal advisor to Cantor Fitzgerald & Co.

The initiative highlights the growing confidence in Solana's long-term value proposition. The price increase underscores market participants' belief in the potential of Solana as a leading blockchain ecosystem.

References:
[1] https://cryptobriefing.com/solana-treasury-raise-forward-industries/
[2] https://www.morningstar.com/news/business-wire/20250907677362/forward-industries-inc-announces-165-billion-private-placement-in-cash-and-stablecoin-commitments-led-by-galaxy-digital-jump-crypto-and-multicoin-capital-to-initiate-solana-treasury-strategy