DeFi Development Corp Boosts Solana Holdings to $36.5M, Rebrands from Janover

DeFi Development Corp, formerly Janover (JNVR), has expanded its crypto-focused strategy with a $11.5 million purchase of Solana (SOL), bringing its total holdings to 251,842 SOL tokens. Valued at roughly $36.5 million at current prices around $145 per token, the move solidifies the company’s position as the first U.S.-listed firm with a treasury strategy built around Solana.

The Florida-based fintech firm, which rebranded following a majority acquisition by former Kraken executives, is pivoting to blockchain infrastructure. The strategy includes accumulating SOL and operating validators to secure the network. The company also disclosed plans to change its ticker to DFSV on Nasdaq to align with its new identity.

The latest SOL purchase was funded by a $42 million financing round earlier this year. Each share of the company now represents approximately 0.17 SOL—up 62% from its last token buy. Despite a 2.5% dip in share price today to $38.30, the stock remains up over 800% since adopting its crypto treasury strategy. SOL itself rose nearly 5% over the past 24 hours as broader market sentiment turned bullish.

In addition to its SOL accumulation, DeFi Development Corp recently partnered with Kraken to delegate part of the exchange’s SOL holdings to its validators. The firm also teamed up with BitGo to acquire locked tokens via OTC deals, further enhancing its long-term blockchain commitment.

This aggressive shift echoes MicroStrategy’s Bitcoin-centric playbook, positioning DeFi Development Corp as a key corporate backer of Solana’s ecosystem amid rising institutional interest in alternative layer-1 blockchains.