Galaxy, Multicoin, and Jump Crypto Plan $1B Vehicle for a Publicly-Traded Solana Treasury

• Galaxy, Multicoin, and Jump are planning a $1 billion Solana Treasury initiative.
• The initiative is expected to kick off at the beginning of September.
• Upcoming institutional adoption will boost Solana’s demand.

Crypto heavyweights Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly planning to raise $1 billion to create a new SOL treasury. The plan, which is said to be in its advanced stages, is focused on accumulating Solana (SOL) tokens by acquiring and restructuring a publicly traded company. 

What is this $1 billion Solana treasury Deal?

The plan is to use the restructured public company as a vehicle for managing a substantial Solana treasury. The transaction, with Cantor Fitzgerald LP as the lead banker, is expected to close as early as September.

Besides interest from the notable entities involved in the deal, the Solana Foundation, a nonprofit organization dedicated to advancing the Solana blockchain network, is reportedly in support of the initiative. The Solana Foundation’s support lends credence to the growing institutional endorsement of the cryptocurrency, which has established its prominence as a leading project in decent…

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