DeFi Development (JNVR) Raises Up to $48M in Solana Holdings Funding via Discounted Token Purchase via BitGo

Buying Solana to fund balances gains popularity as DeFi growth pushes assets to $48M

The company formerly known as Janover has continued to actively accumulate its long-term crypto assets by acquiring locked SOL tokens at below-market prices.

Christian Sandor, AI Boost | Edited by Aoyon Ashraf , Apr 23, 2025 10:44 PM

Important facts:

• DeFi Development Corp added $9.9 million worth of Solana SOL to its treasury, increasing its total assets to 317,273 tokens, equivalent to $48 million.
• The company, formerly known as Janover, said the purchase was made through BitGo's over-the-counter desk, where it purchased locked SOL at below-market prices.
• The organization has shifted its focus from real estate to the Solana ecosystem and now provides investors with direct access to SOL through its balance sheet, following Michael Saylor's Bitcoin-focused strategy.

DeFi Development Corp (JNVR), formerly known as Janover, has added an additional $9.9 million in Solana SOL to its corporate treasury, bringing its total crypto assets to 317,273 SOL, or roughly $48 million, according to information provided by the company on Wednesday.

The purchase, made through BitGo's OTC desk, includes a batch of locked SOL. These tokens are typically tied to vesting or bankruptcy processes and cannot yet move on-chain, but are worth less than market prices.

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“By accessing locked inventory at discounted prices through a trusted partner like BitGo, we can accumulate a portion of our SOL below market prices while deepening our connection to the Solana ecosystem,” said CEO Joseph Onorati.

Janover, which rebranded as DeFi Development earlier this week, started out as a real estate data and software company but has since shifted its focus to a publicly traded U.S. company offering investors direct access to the Solana ecosystem through its balance sheet. The pivot comes after a group of former Kraken crypto exchange executives, including Onorati, took a majority stake in the company this month.

The company stressed that with the latest purchase, each of the firm's 1.5 million shares now represents 0.22 SOL, up 40% from its previously reported value.

Corporations are hoarding SOL to give TradFi investors access to the token, a trend that has been accelerating lately. SOL Strategies, a publicly traded company led by CEO Leah Wald — the former co-founder of digital asset manager Valkyrie Investments — is leading the charge. Today, the company announced that it has secured up to $500 million in convertible debt to increase its investment in the Solana network.

Read More: Janover Follows Saylor Playbook's Lead, Doubling SOL Stack to $20M as Stock Soars 1,700%

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