Janover Stock Price Soars 842%, Announces Adoption of Solana as Treasury Reserve Asset
Commercial real estate lending platform Janover's stock price skyrocketed by 842.5% in a single day, at one point exceeding 1000%, due to a group of former Kraken employees acquiring a majority stake in the company.
Janover will be renamed DeFi Development Corporation and will adopt a digital asset financial strategy using **Solana (SOL)** as its primary reserve asset. This makes it the first publicly traded company in the U.S. to adopt a strategy similar to MicroStrategy's but centered around Solana.
New CEO Joseph Onorati stated that the team will “immediately” begin purchasing SOL and has committed to a transparent, planned strategy that is deeply integrated with the Solana ecosystem. The company also raised $42 million from institutions such as Pantera Capital, Kraken, and Arrington Capital for the purchase of SOL.
Onorati said: “Bitcoin is a store of value, while Solana is the foundation of a high-performance financial system.”
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