Companies Galaxy Digital, Jump Crypto, and Multicoin Capital are negotiating to raise $1 billion to create a fund based on Solana $SOL . This is reported by Bloomberg, citing sources familiar with the deal.

To implement the plan, the parties have engaged the bank Cantor Fitzgerald. It is expected that as part of the deal, a public company will be bought out and transformed into a new structure for accumulating Solana.

According to the sources, the deal could become the largest example of centralized Solana accumulation, surpassing the current reserves of any other similar initiative by more than double. The non-profit organization Solana Foundation has approved this initiative, the sources claim.