According to a report by (Bloomberg) citing informed sources, the three major giants in the cryptocurrency field—Galaxy Digital, Jump Crypto, and Multicoin Capital—are in talks to raise 1 billion USD for the purchase of Solana (SOL) and to establish an SOL reserve company.
Informed sources revealed that these three companies have invited investment bank Cantor Fitzgerald to serve as the lead bank for this transaction and plan to acquire an unnamed publicly listed company to establish a digital asset reserve company.
If this transaction is successfully completed, it will be the first time that the power of the three major capital giants in the cryptocurrency space is gathered on the same platform, with a holding scale that will be more than double that of the current largest SOL reserve company.
Informed sources further pointed out that the Solana Foundation, located in Zug, Switzerland, has expressed support, and the transaction is expected to be completed in early September.
According to statistics, the Solana reserve company collectively holds approximately 3.44 million SOL, with Upexi leading the way. The company signed a 500 million USD credit agreement last month specifically for increasing SOL purchases.
Solana has rapidly risen to prominence in the decentralized finance (DeFi) and meme coin craze over the past two years, gradually becoming a focus for institutional investors.
According to CoinGecko data, SOL currently has a market capitalization of 107.7 billion USD, solidly ranking as the 6th largest cryptocurrency in the world, with a current price of 199.41 USD, up 6.9% in the past month and up 27.7% in the past year.
"Galaxy, Jump, and Multicoin plan to raise 1 billion USD to establish a Solana reserve company" was first published in (BlockBeat).
