Galaxy Digital, Multicoin, Jump Crypto plan $1B Solana fund: Report

alaxy, Jump and Multicoin to build $1B Solana treasury Galaxy Digital, Multicoin Capital and Jump Crypto are reportedly planning to raise $1 billion to acquire Solana (SOL). According to a Bloomberg report citing anonymous sources, the initiative would form the largest treasury ever dedicated to ￰0￱ three companies have tapped Cantor Fitzgerald as their lead banker for the fundraising ￰1￱ plan includes taking over a publicly traded entity to transform it into a digital asset treasury company focused on ￰2￱ Solana Foundation has endorsed the initiative, lending institutional support to the effort. Solana’s position in the market Solana remains the sixth-largest cryptocurrency by market capitalization, trading near $200 with a 6.6% increase over the last 30 days, according to ￰3￱ successful, the $1 billion treasury would more than double the size of the largest existing Solana reserve, strengthening confidence in the network as it continues to recover from the aftermath of the FTX ￰4￱ major Solana treasuries Currently, Upexi, a supply chain management brand, holds the largest corporate Solana treasury with over 2 million SOL valued around $400 ￰5￱ leverages staking yields and discounted locked Solana tokens to generate value for its ￰6￱ Development Corporation ranks second, holding 1.29 million SOL worth about $240 million.

Meanwhile, Bitcoin mining firm Bit Mining recently announced a strategic pivot to Solana, with plans to raise $200–$300 million to create a SOL ￰7￱ road ahead The combined push from Galaxy, Multicoin and Jump Crypto would eclipse existing reserves, marking the largest coordinated corporate move into Solana to ￰8￱ executed, the fund would establish Solana as one of the most significant assets in institutional crypto treasuries.