Janover Shifts Focus to Solana with $21M Investment, Stock Value Explodes
Janover (JNVR), a fintech platform primarily known for its commercial real estate focus, has made a bold move into the crypto space, betting on Solana (SOL) as a core part of its treasury strategy. Under new leadership, including former Kraken executives Joseph Onorati and Parker White, the company has amassed a $21 million Solana stack, which has contributed to a meteoric rise in its stock price — increasing nearly 20 times in value in just a few weeks.
The firm recently announced an additional acquisition of 80,567 SOL tokens, valued at approximately $10.5 million, bringing its total holdings to 163,651 SOL. This makes Janover one of the first U.S.-listed companies to center its treasury strategy around Solana.
The strategic pivot comes after Onorati, Kraken’s former chief strategy officer, and White, former engineering director at Kraken, took majority control of Janover earlier this month. Onorati now serves as chairman and CEO, while White holds dual roles as chief investment officer and chief operating officer. Marco Santori, Kraken’s former legal officer, has also joined Janover’s board of directors.
To fund its Solana acquisition, Janover raised $42 million through convertible notes and warrants, with plans to also become involved in Solana’s proof-of-stake network by operating its own validators.
Since announcing its pivot into crypto, Janover has seen its stock surge more than 1,700%, jumping from around $4 per share to $73.74 as of Tuesday following the latest Solana purchase.
Onorati commented on the move, saying, “We see decentralized finance as the future, and we’re excited to be the first public U.S. company to implement a digital asset strategy focused on Solana. With our team’s deep expertise in both crypto and public markets, we are well-positioned to deliver long-term value for our shareholders.”
Despite this pivot, Janover will continue its operations in the commercial real estate sector. The company’s AI-powered real estate platform remains a priority, under the leadership of founder Blake Janover and CFO Bruce Rosenbloom.
