Mentioned:
Galaxy Digital is one of the most important companies in all of crypto. And now, they’re getting behind a publicly traded company on a Solana buying spree.
What’s happening:
- DeFi Development Corp (NASDAQ: JNVR) has raised $24M USD in a new equity financing round
By the numbers:
- The financing was done at $46.00 USD per share
- DeFi Development Corp currently owns a total of 317,273 Solana tokens
Why it matters:
- The new funding round into DeFi Development Corp was led by some of the most prominent investors in crypto including Galaxy Digital (TSX: GLXY), Amber International Holding (NASDAQ: AMBR), Arrington Capital and Republic Digital
Going deeper:
- The new infusion of capital will go towards DeFi Development Corp accumulating more Solana to hold directly as an asset and generate a passive yield from through staking
- DeFi Development Corp has been making a flurry of moves recently, including previously raising $42M USD from Kraken and Pantera Capital and beginning to accumulate millions of dollars worth of Solana
