Janover Buys Another $11.5M in SOL, Gets Renamed Amid Crypto Treasury Strategy Play

Janover (JNVR), the real estate-focused fintech company with a Solana (SOL) treasury strategy, has been renamed to DeFi Development Corp and purchased another $11.5 million worth of SOL tokens, the firm said on Tuesday.
The move brings the company's total SOL holdings to 251,842, including staking rewards, the company said. That's valued at around $36.5 million, with SOL currently trading around $145.
JNVR shares were down 2.5% today at $38.3, well below last week's peak just shy of $80. However, the stock is still up over 800% since adopting the crypto treasury strategy. SOL advanced nearly 5% over the past 24 hours, with the broader crypto market climbing higher.
The purchase was part of the Boca Raton, Florida-based company's new crypto bet to position itself as the first U.S.-listed company with a treasury strategy centered on Solana and its native token SOL.
As part of the strategy, the firm seeks to accumulate SOL and operate one or more validators to secure the blockchain. The pivot happened after a team of former executives of crypto exchange Kraken bought a majority stake in the firm earlier this month.