Overview

• Cantor Fitzgerald is engaged as lead banker, and a takeover of a listed company is being considered, according to Bloomberg reporting relayed by CryptoSlate.
• The vehicle would consolidate SOL on a public balance sheet using equity financing with the option to add converts or PIPEs to scale exposure.
• If completed, the effort is described as creating the largest dedicated Solana treasury, with talks ongoing and terms subject to change.
• Solana’s market structure provides context, as OKX reports the network has captured about 48% of DEX volume in 2025 with activity skewed toward smaller trades.
• Other listed firms have been building SOL holdings, including Upexi and DeFi Development Corp., signaling growing corporate adoption of Solana on balance sheets.