Forward Industries moves $32M in SOL amid $1B paper loss
Forward Industries moved about 455,784 SOL, worth roughly $31.9 million, from a company-linked wallet to Coinbase Prime, its first onchain activity in a month. The transfer does not prove a sale, but it often signals possible trading or liquidity management by an institutional holder. The move came as the company’s Solana treasury position is deeply underwater: it reportedly bought about 6.83 million SOL for $1.59 billion at an average of $232.08, while SOL has fallen about 72% to around $64.63, implying roughly $1.15 billion in unrealized losses. Forward shares fell about 6% in premarket trading after the transfer. The activity reflects broader pressure on corporate crypto treasuries as token prices slump and investors focus on balance-sheet risk.
