Three major crypto firms target $1 billion to acquire a public company, building the largest Solana treasury.
Galaxy Digital, Multicoin Capital, and Jump Crypto are preparing one of the boldest bets yet on Solana, seeking to raise roughly $1 billion to acquire an undisclosed publicly traded company and turn it into the largest Solana-focused treasury to date.
People familiar with the matter told Bloomberg that investment bank Cantor Fitzgerald is leading the deal, which has already secured backing from the Solana Foundation. The transaction is expected to close in early September.
If successful, the venture would more than double the size of any existing Solana investment vehicle and mark a shift in how institutional players treat the blockchain, positioning it as a corporate treasury reserve on par with Bitcoin.
The timing is notable. Solana has climbed nearly 10% in the past week, surpassing $200 once again today. Analysts say a breakout above $211 could push the token toward $222.
Galaxy is no stranger to large Solana deals, raising approximately $620 million last year through a fund specifically set up to purchase Solana (SOL) tokens from the collapsed FTX estate.
Both Multicoin and Jump have also been long-time investors in Solana’s ecosystem.
Their move reflects a wider trend. Corporate adoption of crypto treasuries has accelerated in 2025, with publicly listed Bitcoin holders nearly doubling since December, rising from 70 to 134.
In parallel, several companies have begun accumulating Solana, motivated by its staking yields, offering up to 8% annually, and the opportunity to engage directly with the Solana Foundation and validator ecosystem.
Why This Matters
The $1 billion initiative could redefine Solana’s role in global markets by elevating SOL from a speculative asset to a structured corporate reserve.
Discover DailyCoin’s popular crypto news:
Jackson Hole Rally Fuels Crypto: Can This Week’s U.S. Data Push BTC Higher?
USDC Reserves on Major Crypto Exchanges Reach All-Time High
