Nasdaq listed in the design and company manufacturing of the forward industry has gained $ 1.65 billion cash and stablecoin promises to launch a Crypto -focused Crypto approach to Solana.
The company Says Monday it raised the largest Solana (Sol) Treasury to this day, led by crypto-native Galaxy Digital, Jump Crypto and Multicoin Capital. Other participants include C/M capital partners, which is one of the existing shareholders of forward industries.
It follows a Bloomberg report in late August saying that the three giant cryptos are Planning to raise $ 1 billion And get a company that has been publicly exchanged to create the largest crypto treasury dedicated to Solana.
According to the announcement, Forward plans to position himself as a publicly exchanged institutional vehicle. It plans to produce onchain and lasting value returns by participating in the Solana ecosystem.
Galaxy, Jump and Multicoin to support forward industries
Forward said Galaxy Digital will provide management of treasury, trading, lending and staking services. Jump Crypto will support infrastructure through projects such as firedancer and doublezero, while the multicoin capital will offer strategic guide and management.
Multicoin co-founder and partner of partner Kyle Samani is expected to be chair of the Director of Forward Industries Director.
Samani said the transition reflects the convincing of Solana’s growth and potential, contingent that an institutional scale can “increase the SOL every part at a faster rate than being a passive holder.”
He also said that Sol was still misunderstood and had a discount on the market in the market despite being resilient. “I believe that this asymmetry creates a huge opportunity for a Treasury approach to Solana,” Samani added.
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Pass the industries to become the largest Sol Treasury
Solana’s $ 1.6 billion reserves almost triple the size of Largest existing Treasury of Solana. At the time of writing, Supply Chain Management brand UPEXI holds the largest Sol Holdings with 2 million Sol tokens, which costs nearly $ 430 million in current market prices.
Subsequently, the Defi Development Corporation said on August 4 that it held 1.29 million Sol, worth about $ 280 million. In July, the Bitcoin Mining firm announced that plans to raise between $ 200 and $ 300 million to Form a Sol token Treasury.
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