Janover Increases Its Investment in SOL by $11.5 Million, Renames Company to Match New Crypto Treasury Strategy
Author: Christian Sandor Updated April 22, 2025, 6:13 PM Published April 22, 2025, 4:08 PM
Janover (JNVR), a real estate fintech company implementing the Solana (SOL) treasury strategy, has rebranded as DeFi Development Corp and acquired an additional $11.5 million in SOL tokens, the company announced Tuesday.
The firm noted that the move brings the total number of SOL tokens held by the company to 251,842, including staking rewards. That’s valued at around $36.5 million, with SOL currently trading at around $145.
JNVR shares are down 2.5% today at $38.30, well below last week’s level of just under $80. However, the stock is still up more than 800% since the crypto treasury strategy was implemented. SOL has gained nearly 5% in the last 24 hours, and the broader crypto market has also risen.
The purchase is part of a new crypto strategy for the Boca Raton, Florida-based company, which aims to become the first U.S.-listed company with a treasury strategy centered on Solana and its native token, SOL.
As part of this strategy, the firm plans to accumulate SOL and operate one or more validators to secure the blockchain. The turnaround comes after a team of former Kraken executives acquired a majority stake in the firm earlier this month.
Read More: Janover Follows Saylor Playbook’s Lead, Doubling SOL Stack to $20M as Stock Soars 1,700%
The purchase was made using funds from the company’s $42 million funding round completed earlier this year. The latest figures show that each share of the company is worth 0.17 SOL, up 62% from its last cryptocurrency purchase, according to a press release.
The company also plans to change its ticker symbol to DFSV on the Nasdaq in the future to reflect its new name.
Last week, the firm announced a strategic partnership with Kraken to delegate a portion of the exchange’s SOL holdings to be staked by validators managed by DeFi Development Corp. The company has also teamed up with BitGo to acquire locked tokens through over-the-counter markets.
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