Former Kraken executives acquire real estate firm Janover, plan to create Solana treasury

From Cointelegraph

April 7, 2025 6:20 PM:

A team of former Kraken executives takes over Janover, with Joseph Onorati as chairman and CEO. The group purchased over 700,000 common shares and all Series A preferred stock. Parker White is the new chief investment officer and chief operating officer, with Marco Santori joining the board. Janover’s stock price surged 840% on April 7 after the deal. The company plans to create a Solana reserve treasury, including acquiring Solana validators, staking SOL, and additional token purchases. Janover also raised $42 million in convertible notes, with participants like Pantera Capital, Kraken, and Arrington Capital. The company began accepting Bitcoin, Ether, and SOL payments in December 2024 for real estate services.

Crypto treasury companies like Janover are making bold moves by investing in digital assets like Bitcoin and Solana. Strategy was one of the first publicly traded companies to hold Bitcoin on its balance sheet in August 2020, sparking a trend among other companies like Metaplanet, Semler Scientific, and Tesla. These companies have seen share price increases as investors seek exposure to digital assets through traditional financial products. However, critics have raised concerns about the volatility of cryptocurrencies and companies’ financing methods, such as convertible note offerings used by Strategy. Solana has experienced significant price fluctuations in the past year, reaching highs of $274.50 and lows of $107.68.

Read more at Cointelegraph: Former Kraken execs acquire real state firm Janover, disclose SOL treasury plans