According to sources cited by Bloomberg, the three major players in the cryptocurrency field—Galaxy Digital, Jump Crypto, and Multicoin Capital—are negotiating to raise $1 billion to purchase Solana (SOL) and establish a SOL reserve company.
Sources revealed that these three companies have invited investment bank Cantor Fitzgerald to act 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 the powers of the three major capital giants in the crypto sphere are consolidated on the same platform, with the holding scale being more than double that of the current largest SOL reserve company.
Sources further indicated that the Solana Foundation, located in Zug, Switzerland, has expressed support, and the transaction is expected to be completed by early September.
According to statistics, the Solana reserve company holds approximately 3.44 million SOL, led by Upexi. The company signed a $500 million credit agreement last month specifically for increasing its purchase of SOL.
Solana has rapidly risen in the past two years amidst the decentralized finance (DeFi) and meme coin craze, gradually becoming a focal point for institutional investors.
According to CoinGecko data, SOL currently has a market capitalization of $107.7 billion, firmly ranking as the 6th largest cryptocurrency in the world, currently priced at $199.41, having risen 6.9% in the past month and 27.7% over the past year.
"Galaxy, Jump, Multicoin plan to raise $1 billion to create a Solana reserve company" was first published by (Blockkey).
