chainwire 
Well, Solana’s price got a nice little bump to start the week, climbing about 6% or so. It’s a welcome move after a pretty rough stretch for the crypto. And it seems the reason is a pretty big deal—a new treasury initiative that’s pulled in some major names from the industry.
Major Players Back a New $1.65 Billion Treasury
The whole thing came to light through an announcement from Forward Industries (FORD). They’re moving forward with what’s called a PIPE offering—basically a private investment deal. The total commitment? A staggering $1.65 billion. That’s a mix of cash and stablecoins.
What makes this really stand out is who’s involved. Galaxy Digital, Jump Crypto, and Multicoin Capital are leading the charge. These aren’t minor league players; they’re significant forces in crypto investing. Their capital is meant to establish a new Solana-focused treasury. The idea, from Forward Industries’ perspective, is to try and generate better on-chain returns and maybe enhance value for shareholders over the long term by being actively involved in Solana’s ecosystem.
Michael Pruitt, the CEO of Forward Industries, put it pretty plainly. He said the move shows their belief in SOL’s potential and their commitment to building value by being a direct participant in its growth. It’s a strong statement of intent.
Leadership and a Belief in Solana’s Value
As part of this, Kyle Samani from Multicoin is expected to become Chairman of the Board. He’s been a vocal supporter of Solana for a long time, often arguing that the platform doesn’t get the credit it deserves. He points to the “real economic value” being built on it.
His view is that an institutional-scale treasury can be used in smart ways within Solana to create unique value and increase the SOL per share faster than just holding the asset passively. It’s a more active approach. Galaxy’s Chris Ferraro and Jump’s Saurabh Sharma are also set to join as observers, adding even more heavyweight oversight.
Connecting to a Nasdaq Listing
Perhaps the most interesting part is how this connects to the bigger picture. This new treasury company will be part of something called SOL Strategies. And here’s the key part: SOL Strategies just got approval to list on the Nasdaq under the ticker “SRKTE.” Trading could start as soon as Tuesday.
That’s a huge step. It brings a type of Solana-focused investment vehicle directly to a major traditional stock exchange, offering a new way for people to get exposure.
The market reaction was immediate. SOL’s price shot up toward $215, performing better than most other major cryptos. Of course, it’s still way down from its peak near $293 earlier this year. But for a Monday, it was a pretty solid start.