DeFi Development Corp adds $11.5M SOL, shares jump 12%
DeFi Development Corporation, previously Janover, is enhancing its Solana treasury strategy after being acquired by former Kraken executives. The company added 88,164 Solana (SOL) to its treasury, increasing its total Solana stake to $34.4 million. Following the acquisition on April 7, the company shifted focus to crypto and rebranded, moving away from real estate financing. It has made several SOL purchases, including a $10.5 million buy on April 16, totaling 251,842 SOL holdings. The company plans to stake these tokens for yield generation. Shares of DeFi Development Corporation (JNVR) rose 12.83% following the announcement. Staking SOL offers an 8.31% annualized return, with Solana surpassing Ethereum in total staked value on April 21. Other companies are also adopting crypto treasury strategies, with notable increases in stock prices following similar moves.
