Galaxy, Jump & Multicoin Plan $1B Digital Asset Treasury Firm to Accumulate Solana
Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly seeking to raise $1 billion to acquire a public company and convert it into a digital asset treasury firm focused on accumulating Solana (SOL), with Cantor Fitzgerald as lead banker. Backed by the Solana Foundation, the deal is expected to close in early September. Analysts suggest the move could boost Solana’s price, market sentiment, and developer activity by validating institutional support. The initiative follows the trend of corporate crypto treasuries, which have traditionally held mostly Bitcoin and Ethereum but are increasingly diversifying into altcoins like Solana, BNB, and XRP.