The design and manufacture company of the manufacturing company that is quoted in Nasdaq obtained $ 1.65 billion in cash and stablecoin commitments to launch a cryptographic treasury strategy centered on Solana.
The company said Monday that it raised the largest Solana (Sun) treasure to date, led by the Galaxy Digital, Jump Crypto and Mulicoin Capital crypto companies. Other participants included c/m Capital Partners, which is one of the existing shareholders of the industries forward.
This follows a Bloomberg report at the end of August saying that the three cryptographic giants planned to raise $ 1 billion and take care of a public listed company to create the largest cryptographic treasure dedicated to Solana.
According to the announcement, Forward plans to position itself as a publicly marketed institutional vehicle. It plans to generate returns in the chain and long -term value participating in the Solana ecosystem.
Galaxy, Jump and Multicoin to support the front industries
Forward said Galaxy Digital will provide treasury, trade, loan and stagnation management services. Jump Crypto will admit the infrastructure through projects such as Dordancer and Doublezero, while Multicoin Capital will offer strategic guidance and governance.
The co -founder and managing partner of Multicoin Kyle Samani is expected to be president of the Board of Directors of Forward Industries.
Samani said the measure reflects the conviction in the resilience and growth potential of Solana, arguing that a treasure at institutional scale can “increase sun per action at a faster rate than to simply be a passive holder.”
He also said that Sol is still misunderstood and ruled out by market participants despite being resistant. “I think this asymmetry creates a great opportunity for a Solana Treasury strategy,” Samani added.
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Front industries to become the biggest sun treasure
The Solana reserve of $ 1.6 billion of Forward would almost triple the size of the largest existing solar treasure. At the time of writing this article, the UPEXI supply chain management brand has the largest sun holdings with 2 million tokens Sol, for a value of approximately $ 430 million to current market prices.
After this, Develop Development Corporation said on August 4 that it had 1.29 million sun, for a value of approximately $ 280 million. In July, Bitcoin Bit Mining’s mining firm announced plans to raise between $ 200 and $ 300 million to build a Treasure of Tokens Sol.
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