DeFi Development Adds $9.9M in Solana to Treasury, Strengthens SOL Exposure

DeFi Development Corp (NASDAQ: JNVR), formerly known as Janover, has added $9.9 million worth of Solana (SOL) to its corporate treasury, increasing its total holdings to 317,273 SOL—currently valued at approximately $48 million. The purchase, conducted through BitGo’s over-the-counter desk, includes locked SOL tokens, which are typically tied to vesting schedules or bankruptcy cases and can’t move on-chain. These tokens were acquired at a discount, enabling the company to accumulate SOL below market prices.

CEO Joseph Onorati, a former Kraken executive, emphasized the strategic nature of the deal. “By gaining access to locked discounted inventory through a trusted partner like BitGo, we’re able to accumulate SOL while deepening our alignment with the Solana ecosystem,” he stated.

The firm recently rebranded from Janover to DeFi Development to reflect its shift from real estate software to a blockchain-centric business. The move comes after Onorati and other former Kraken executives acquired a controlling stake in the company, repositioning it as a public vehicle offering traditional investors direct exposure to the Solana blockchain through its balance sheet.

With the latest acquisition, each of the company’s 1.5 million outstanding shares now equates to 0.22 SOL, up 40% from previous levels.

Institutional interest in Solana continues to rise. SOL Strategies, led by Valkyrie Investments co-founder Leah Wald, announced earlier today a $500 million convertible note facility to further invest in Solana infrastructure and tokens, highlighting growing demand for corporate exposure to the network.

This momentum positions DeFi Development Corp as a key player in bridging traditional finance and the Solana blockchain, giving investors a novel way to gain crypto exposure through U.S. equity markets.