Jito Foundation buys SolanaFloor to revive site after Step Finance $40M hack
Jito Foundation has acquired SolanaFloor, a data and journalism platform covering the Solana ecosystem, and plans to relaunch it after the site shut down in February. SolanaFloor went offline when its parent company, Step Finance, wound down operations following a late-January treasury wallet breach that drained about $40 million in Solana (SOL). Under Jito Foundation ownership, SolanaFloor will resume publishing ecosystem news, research and on-chain analytics; details on editorial staff and commercial plans will be released after the relaunch. Jito Foundation supports development around the Jito protocol, focusing on liquid staking and block-building infrastructure, and runs grants and partnerships across Solana. The financial terms of the acquisition were not disclosed. The Step Finance hack also triggered shutdowns at affiliated platforms and involved the unstaking and transfer of over 261,854 SOL, according to security firm CertiK. The incident underscores ongoing security risks in crypto — Chainalysis reported that hackers stole roughly $3.4 billion in crypto in 2025, with a few large breaches accounting for most losses.
Neutral
The acquisition is unlikely to produce an immediate market-moving effect on SOL prices. The deal restores a Solana-focused news and analytics outlet, which supports information flow and ecosystem transparency — a generally constructive factor — but it does not directly affect protocol fundamentals, token supply, or staking economics. The Step Finance hack and the loss of ~261,854 SOL remain the primary negative driver; security incidents can weigh on trader sentiment and short-term volatility. Historically, breaches of centralized services or aggregators have caused short-term bearish pressure on tokens tied to the affected ecosystem, while operational recoveries (acquisitions, relaunches, audits) gradually rebuild confidence. Expect short-term market sensitivity: traders may remain cautious on SOL and related projects until forensic reports or restitutions reduce uncertainty. Over the medium to long term, improved journalism and analytics can aid price discovery and reduce information asymmetry, which is neutral-to-slightly-bullish if accompanied by security improvements and stronger governance. Key trader actions: monitor official relaunch details, any disclosed remediation from Step Finance, on-chain movement of the stolen SOL, and security audits — these factors will drive short-term volatility more than the acquisition announcement itself.