DeFi Development Corp Invests $11.5M in Solana, Stock Soars 12%

DeFi Development Corporation, formerly known as Janover, is bolstering its Solana treasury following a buyout orchestrated by Kraken executives. The company recently purchased an additional $11.5 million worth of SOL (equivalent to 88,164 tokens), bringing their total Solana holdings to $34.4 million. This significant investment follows the acquisition of DeFi Development Corporation by a group of former Kraken executives on April 7th. The change in strategy is marked by a rebrand and a focus on cryptocurrency assets, including the establishment of a Solana-based reserve treasury. Previously, Janover operated in the real estate financing sector connecting lenders with commercial property buyers. 88,164 SOL tokens were added to their treasury after the recent $10.5 million purchase made on April 16th. The company plans to utilize these tokens for staking activities to generate further yield. Shares of DeFi Development Corporation (JNVR) are currently up 12.83% following the announcement, according to Google Finance data.