Galaxy Digital, Multicoin Capital And Jump Crypto Partner To Start A $1B Solana Treasury Firm, Bloomberg Says
Crypto giants Galaxy Digital, Multicoin Capital and Jump Crypto are joining forces to raise $1 billion and form a Solana treasury company. According to an Aug. 25 Bloomberg report that cited sources familiar with the matter, the three companies aim to create the largest SOL treasury firm. They have also tapped Cantor Fitzgerald, who has over $14.8 billion in assets under management (AUM), as the lead banker. As part of the planned treasury, the three companies will look to buy out a company that is already publicly listed. The Solana Foundation, a non-profit dedicated to the growth of the Solana blockchain, is also backing the initiative. Growing Number Of Companies Adding Solana To Their Reserves Bitcoin (BTC) and Ethereum (ETH) have been the most popular cryptos for companies looking to build their own digital asset reserves. That trend started when Strategy began acquiring Bitcoin back in 2020. Through a series of acquisitions since then, the firm has become the lar...