Janover’s stock (JNVR) just ripped through Wall Street’s script with a Solana-fueled transformation no one saw coming—first erupting 842% in a single day, then plunging 31% the next. The obscure real estate data firm announced a full-scale overhaul on Monday. It introduced a $42 million-backed Solana treasury strategy, revealed a Kraken-fueled leadership takeover, and confirmed a full rebrand into DeFi Development Corporation. Investors rushed in—then second-guessed just as quickly.
New Crypto Strategy Sends Janover Soaring
JNVR stock went vertical the moment the announcement dropped. Janover confirmed that a group of former Kraken executives had acquired a controlling stake, raised $42 million, and would begin aggressively buying SOL tokens and Solana validators. According to the company, the transition isn’t just about holding assets. It plans to actively participate in the Solana ecosystem through staking and validation to create what Chairman and new CEO Joseph Onorati called “a flywheel for long-term accumulation and ecosystem participation.”
Unlike other firms parking Bitcoin on the balance sheet, Janover is taking a more hands-on approach with Solana (SOL-USD)—despite SOL’s 45% plunge this year. “Bitcoin has and always will be the most powerful store of value, but Solana is the foundation for an entirely new, high-performance financial system,” Onorati said in a statement.
Crypto VCs Fuel the Fire With $42M Cash Injection
Backing this transformation is serious money. The company has already raised $42 million via convertible notes and warrants, with contributions from names like Pantera Capital, Kraken, Arrington Capital, and Bitwise-linked investors. The funding round gives Janover the firepower to begin buying SOL tokens and validators immediately, with conversion terms kicking in once the company’s market cap hits $100 million.
Janover Aims to Lead Public Market Solana Exposure
The firm is now the first U.S.-listed company building a treasury strategy around Solana. It joins Canada’s Sol Strategies and asset managers like VanEck and Franklin Templeton, who have filed to launch Solana ETFs. Janover’s core real estate SaaS platform will stay alive, but its future now hinges on crypto execution.
