Janover has raised $42 million through the issuance of convertible notes and warrants, which will be used to increase its holdings in SOL

2025-04-07 20:01:22

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ChainCatcher news, according to CNBC, U.S. public company Janover announced on Monday that it has raised $42 million by issuing convertible notes and warrants to several investors, including Pantera Capital, Kraken, and Arrington Capital. This funding will be used to purchase SOL as a financial reserve.

Janover may be the first company in the U.S. to adopt an acquisition strategy targeting Solana. The company plans to rename itself to DeFi Development Corporation and modify its stock ticker. The newly appointed chairman and CEO Joseph Onorati revealed that his team plans to "immediately" start accumulating SOL. Janover also plans to acquire validators (computers that help run the Solana network and validate transactions), which can be used not only to acquire SOL tokens but also to "stake" them, earning rewards by locking SOL tokens on the network.

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