Mentioned:
More than a billion dollars is about to get injected into Solana. And Multicoin, Jump Crypto and Galaxy Digital are behind it.
What’s happening:
- Forward Industries (NASDAQ: FORD) has successfully raised $1.65B USD in a new equity financing round to begin accumulating Solana
Why it matters:
- The new capital raise is being led by Galaxy Digital (NASDAQ: GLXY), Jump Crypto and Multicoin is the single largest financing round ever in the public markets for the sole purpose of purchasing Solana
Going deeper:
- Multicoin co-founder Kyle Samani will become Chairman of Forward Industries following the successful closing of the financing round
- Galaxy, Jump Crypto and Multicoin have all publicly stated they plan to closely collaborate on ways to maximize returns from their Solana holdings through active participation in the Solana network
The intrigue:
- Mulitcoin led the first three funding rounds into Solana prior to the Solana blockchain ever being launched to the public
