Defi Development Corp (former Janover) aims to raise more than $ 1 billion in capital to invest in Solana, the sixth largest cryptocurrency in the industry with its market cap.
Previously, NASDAQ listed companies, a real estate financial platform that connects commercial real estate lenders and buyers, announced plans as a form S-3 registration statement submitted to the US Securities and Exchange Commission (SEC) on April 25.
The documents stipulate that the funds will be used for general company purposes, including the acquisition of Solana (SOL) tokens.
According to the report, the company can purchase more Solana using the proposal.
“Solana doesn’t pay interest, but you can get stake compensation in Solana. The ability to generate investment from net proceeds in this offering depends on whether you have a gratitude for Solana’s value after purchasing the net profit of this offer.”
The company also warned that the net proceeds could be converted into cash with the value of “substantially under value” due to the fluctuation of Solana’s price.
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Janover was a real estate financial company that connects lending agencies and commercial real estate buyers before the former Kraken exchange team acquired 728,632 shares. Joseph Onorati, former chief strategic director of Kraken, has been appointed president and CEO.
This presentation was made shortly after the leadership of Defi Development Corp adopted Solana Treasury Reserve. “By comparing the proven public market financial model with Bitcoin, it is applied to life cycle, structurally reflexive and greatly inappropriate assets.”
The company’s new Solana Investment Treasurer compared the strategy of Michael Saylor, which has collected more than BTC (Bitcoin) (BTC), the world’s largest company’s largest corporate Bitcoin holder as of April 20.
The company’s board of directors approved the company’s SOLANA -centric financial policy on April 4, enabling long -term accumulation and the launch of the Solana validation inspections enabled the stay of the financial assets.
Parker White, the chief investment officer of the company, previously worked as an engineering director of Kraken Exchange and operates a $ 75 million Solana validator with a stake already delegated.
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Regulations on Solana Investment remain
The Solana -centered Treasury implementation shows an important step for adopting ALTCOIN, while the company maintains concerns about the potential effects of opaque encryption regulations.
“We can be the target of regulatory development related to encryption assets and encryption asset markets that can negatively affect business, financial status and operational results.”
The company cited unclear regulations on digital assets, saying, “It can adversely affect the price of Solana.”
The company pointed out that Solana’s potential “re -classification” remains as security, which can be classified as an investment company under the 1940 Investment Company Act.
However, the company’s share price is benefiting from the acquisition of Solana. According to Cointelegraph, the stock price increased by more than 12% when Defi Development Corp added $ 11.5 million worth of Solana tokens to the Treasury on April 22, COINTELEGRAPH reported.
Chris CHUNG, founder of Solana -based swap platform TITAN, said, “The decision that the commercial real estate platform Janover has decided to add SOL to the Treasury is truly groundbreaking.” I am convinced that many other companies will follow the lawsuit before Crypto is adopted by traditional finance.
https://www.youtube.com/watch?v=Hb0z1ti8uys
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