In a surprising but bold move, the real estate technology company Janover – listed on Nasdaq – has officially changed its name to DeFi Development Corporation (abbreviated as DFDV), while aggressively purchasing tens of thousands of Solana (SOL) tokens, reflecting a deep ambition to transition into the world of crypto and decentralized finance (DeFi).
From real estate to blockchain: Janover rebrands and shifts its mission
The company #Janover operating in the real estate sector with an artificial intelligence application platform has announced that it will change its name to DeFi Development Corporation, and simultaneously change its trading symbol from JNVR to DFDV on the Nasdaq in the near future.
According to CEO Joseph Onorati, the name change is part of a new strategy aimed at a model based on transparent capital allocation, deeply rooted in crypto identity, and bringing decentralized financial principles into the traditional market.
"This is the beginning of a new chapter for the business. We want to bring transparency and the native nature of crypto into the public financial market," Onorati shared.
Acquiring over 88,000 SOL – total holdings value exceeds $37 million
Also on the day of the name change announcement, the company made an additional purchase of 88,164 SOL, raising its total holdings to 251,842 $SOL , worth over 37 million USD at current market prices.
This move continues to demonstrate a clear direction: Solana will be central to the company's treasury strategy. Previously, DeFi Development Corporation announced the acceptance of digital assets as a key component in the corporate reserve fund – a strategy that has been effectively applied by Michael Saylor and MicroStrategy with Bitcoin.
Who is behind this deal?
Part of the reason for the strong strategic shift comes from a group of former employees of the Kraken exchange, who acquired a majority stake in Janover at the beginning of April. They are the driving force behind this restructuring, transitioning the company from a traditional tech business to the decentralized finance sector.
To support this strategy, the company raised $42 million through a convertible bond issuance – similar to how MicroStrategy previously raised funds to accumulate Bitcoin. This approach is becoming increasingly popular with publicly listed companies wanting to expand into crypto while maintaining a reasonable financial structure with traditional investors.
Impact on stock prices and the crypto market
JNVR stock has risen by 14% on the day, bringing its growth to 824% year-to-date, currently trading at $44.86/share.
Meanwhile, Solana (SOL) also recorded an impressive increase of 8% on the day, reaching $147, and rising 39% in just two weeks. However, SOL is still about 50% away from its historical peak in January.
This event follows the trend of several other public companies like Upexi, which also announced investments in Solana and immediately saw its stock price increase by 335% in one day.
Significance for the crypto market and Binance users
The transition of DeFi Development Corporation is evidence that crypto is gradually entering the traditional financial ecosystem, not only through investment funds but also via publicly listed companies on the stock exchange.
For Binance users, this trend shows the long-term potential of assets like Solana, as well as the growing interest from institutional investors. If more companies adopt the 'crypto-native treasury' model, the crypto market – especially blockchains like Solana – could witness sustainable growth in the future.
Note the risks
Although the information above reflects a positive trend, users need to be cautious of strong price fluctuations in the short term, especially as stocks and crypto assets can be influenced by market sentiment and speculative activity.