Overview

• Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise about $1 billion to create a Solana-focused treasury via a takeover of a publicly traded company, according to Bloomberg.
• Cantor Fitzgerald has been engaged as lead banker for the proposed transaction, which remains under discussion with an early-September closing goal that could change.
• Separately, Pantera Capital is reported to be seeking up to $1.25 billion to convert a Nasdaq-listed firm into “Solana Co.,” starting with a $500 million raise followed by $750 million in warrants, The Information reported.
• If completed, the new vehicles would eclipse existing corporate SOL reserves, which total roughly $700–745 million today, with Upexi currently the largest holder at about 2 million SOL.
• SOL has traded below $200 during the news cycle, reflecting volatility as observers weigh potential concentration, regulatory and execution risks alongside interest in staking yields reported above 7%.