Galaxy, Jump & Multicoin Raise $1B for Solana Treasury

Galaxy Digital, Jump Crypto and Multicoin Capital plan to raise $1 billion to establish the largest Solana treasury. They’ve appointed Cantor Fitzgerald as lead banker and aim to acquire a public company to form a dedicated digital asset treasury supported by the Solana Foundation. If completed in early September, this corporate SOL reserve will more than double existing holdings such as Upexi’s 2 million SOL and DeFi Development Corp’s 1.29 million SOL. Galaxy Trading has already raised $620 million to purchase SOL from the FTX estate. Experts say a $1 billion Solana treasury can bolster SOL’s credibility, drive demand and price support, and signal growing institutional confidence in structured digital asset holdings.