DeFi Development Corp plans $1 billion raise for Solana strategy

DeFi Development Corp, formerly Janover Inc., has filed a registration statement with the U.S. Securities and Exchange Commission to raise up to $1 billion through a variety of securities offerings.

The company’s April 25, 2025 filing outlines plans to offer common stock, preferred stock, debt securities, warrants, units, and rights to purchase these securities.

Proceeds from the raise will be used for general corporate purposes, with a strong focus on acquiring additional Solana (CRYPTO:SOL) tokens and expanding the company’s presence within the Solana ecosystem.

DeFi Development Corp’s board approved a Solana-centered treasury policy on April 4, authorizing long-term accumulation of SOL and the operation of validator nodes to generate staking rewards.

The company currently holds approximately 317,273 SOL, valued at around $48.2 million, and has already begun earning rewards through its validator activities.

Leadership changes have accompanied this strategic pivot, with Fei “John” Han appointed as Chief Financial Officer and Dan Kang as Head of Investor Relations, both bringing significant experience from the crypto and finance sectors.

The company’s SEC filing notes that while Solana does not pay interest, staking rewards can be earned, and the investment strategy is modeled after public-market treasury approaches used by other firms in the digital asset space.

DeFi Development Corp also highlighted potential regulatory risks, including the possibility that Solana could be reclassified as a security under U.S. law, which could impact the company’s operations and financial results.

The firm’s aggressive Solana accumulation and validator strategy reflect a broader trend among public companies seeking greater exposure to blockchain ecosystems.

At the time of reporting, the Solana price was $147.90.