Three cryptocurrency powerhouses are secretly joining forces to raise $1 billion, aiming to accumulate millions of Solana (SOL) tokens. The move underscores the surging institutional demand for SOL—one of today’s top-performing altcoins.
According to Bloomberg, Jump Crypto, Galaxy Digital, and Multicoin Capital are collaborating on this massive fundraising effort. Insider sources revealed that Cantor Fitzgerald LP, a global financial services firm, will lead the deal, potentially setting a new record for the largest Solana-based treasury ever established.
Leaks also suggest that financial institutions are looking to acquire a publicly traded company to create a dedicated crypto treasury firm. However, all three parties have so far remained silent on the reports.
If successful, Galaxy, Jump Crypto, and Multicoin will form the largest Solana reserve in history, overtaking current holders. At present, the record is held by Upexi, a crypto treasury management firm with over 2 million SOL (valued at about $390 million). Following behind are DeFi Development Corp (DFDV) with 1.42 million SOL ($273 million) and Strategies.Inc. (formerly Cypherpunk Holdings) with 420,707 SOL ($74 million).
This development highlights Solana’s growing allure among institutional investors despite market volatility. Over the past 24 hours, the global crypto market cap has jumped 2.79% to $3.87 trillion. Solana, the sixth-largest altcoin by market cap, is currently trading at $213, up 2.18% in the last day, though still under pressure from recent corrections.
