Mentioned:
Some of the titans of digital assets are getting involved in a publicly traded company in America. But, why?
What’s happening:
- Janover (NASDAQ: JNVR) has raised $42M USD through a private offering of convertible notes and warrants
- The funding round was led by some of the largest investors in digital assets, including Pantera Capital, Kraken, Arrington Capital and others
Why it matters:
- Janover has publicly stated they plan to begin purchasing crypto to hold directly as an asset, starting with Solana
Going deeper:
- Former talent from Kraken has also joined Janover to lead the company’s push into crypto, including Joseph Onorati and Parker White
- Janover has also publicly stated they intend to change the name of the company to DeFi Development Corporation imminently
Market reaction:
- Shares of Janover soared more than +600% following the financing announcement
The fine print:
- Prior to the recent capital raise Janover was focused entirely on leveraging artificial intelligence technology for real estate and it is unclear what will become of their existing software business
