Overview

• Bloomberg reporting says Galaxy Digital, Multicoin Capital and Jump Crypto are in talks to raise roughly $1 billion to build a dedicated Solana reserve.
• Cantor Fitzgerald has been engaged as lead banker, with the group exploring the acquisition of a publicly listed company to serve as the treasury vehicle.
• The proposed reserve would be the largest Solana-focused treasury, estimated at more than double the size of existing vehicles such as Upexi and DeFi Dev.
• The effort is described as pre-closing with an early-September target, and coverage underscores that details could change and the parties declined to comment.
• Short‑term market reaction has been muted or negative, with SOL trading below $200 after a broader pullback, even as futures data shows sizeable speculative interest.