What you need to know:
- Janover just bought another 80,567 Solana (SOL) tokens, boosting its stash to a whopping 163,651 SOL as part of some new “I-have-no-idea-what-I’m-doing” strategy.
- The company is the first public U.S. firm to boldly claim Solana as its digital currency BFF. How daring.
- Since taking the crypto plunge, Janover’s stock has surged a jaw-dropping 1,700%, and no, this is not a typo.
In an attempt to not completely crash and burn like every other “we love Bitcoin” company, Janover (JNVR) has taken a page from the Saylor playbook, but instead of Bitcoin, they decided to go with Solana (SOL), because why not? The fintech commercial real estate platform has now amassed a SOL stash worth around $21 million, and for reasons unknown to humanity, its stock has increased nearly 20-fold in under a month.
Today, Janover decided that 83,000 Solana tokens just weren’t enough. So, they picked up another 80,567, which is approximately $10.5 million. Why? Because they can, apparently.
Janover, already known for their keen sense of adventure, is now the first publicly traded U.S. company to build a treasury strategy around Solana’s SOL. This bold pivot occurred after a team of former Kraken execs—led by Joseph “I’ve got a crypto plan” Onorati and Parker “Is this going to work?” White—took over the company earlier this month. Everyone loves a good takeover story, right?
The company’s board, now filled with Kraken veterans, appointed Onorati as Chairman and CEO, because obviously, you can’t have too many ex-Kraken folks running the show. White, the guy who used to oversee engineering at Kraken, now serves as CIO and COO—because one role just wasn’t enough. Marco Santori, also from Kraken, has somehow found his way onto the board too. Maybe they just really, really like Kraken.
To fund this crypto-buying frenzy, Janover raised $42 million in convertible notes and warrants, which are fancy financial tools we don’t fully understand but seem to have worked. Oh, and they also want to set up validators for Solana’s proof-of-stake network, because why not get even more involved?
Since pivoting into crypto (because real estate was soooo last season), Janover’s stock has gone completely bananas: up more than 1,700% after the big announcement in early April when shares were trading around $4-$5. Now? They’re sitting pretty at $73.74. No, you didn’t read that wrong. That’s an actual number.
“After more than a decade of crypto building, we’ve hit the sweet spot for mass DeFi adoption,” Onorati said, clearly convinced this whole crypto thing is not just a passing phase. “We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets, and we’re doing it with Solana—because it’s fun and risky.”
Despite its newfound crypto obsession, Janover isn’t entirely abandoning its real estate roots. The company’s AI-powered commercial real estate platform is still operating, with founder Blake Janover and CFO Bruce Rosenbloom at the helm. So, don’t worry—there’s still some good ol’ real estate shenanigans happening on the side, just in case crypto doesn’t pan out.
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2025-04-15 21:34