Solana’s $227 Rally Fueled by Record $1.65B Treasury Buy

• Solana’s SOL token climbed to $227.31 after Forward Industries raised $1.65 billion to buy SOL tokens. 

• Major crypto firms Galaxy Digital, Jump Crypto, and Multicoin Capital led the funding round with over $300 million. 

• The deal resulted in leadership changes at Forward Industries and signals growing institutional confidence in Solana.

Solana’s native token SOL, climbed above $227 following news that Nasdaq-listed Forward Industries secured $1.65 billion in funding to build a Solana treasury. The development marks a significant milestone for institutional adoption of the blockchain network.

SOL gained 1.41% to reach $227.31 on Wednesday. The token has posted impressive returns with a 7.75% weekly gain, nearly 30% monthly increase, and over 70% growth in the past six months. Trading data confirms the sustained upward momentum across multiple timeframes.

Major Investment Firms Lead $1.65 Billion Funding Round

Galaxy Digital, Jump Crypto, and Multicoin Capital spearheaded the financing round for Forward Industries (NASDAQ: FORD). The three lead investors contributed more than $300 million collectively. The company plans to allocate proceeds toward purchasing SOL tokens while covering operational expenses and digital asset activities.

Several prominent institutional investors participated in the funding round. Bitwise Asset Management, Borderless Capital, Coinlist Alpha, FalconX, ParaFi, Ribbit Capital, RockawayX, and SkyBridge Capital contributed to the raise. The diverse investor base demonstrates broad institutional confidence in Solana’s ecosystem.

Notable angel investors also backed the initiative. Participants include Cindy Leow from Drift, Guy Young from Ethena, Howard Lindzon from Stocktwits, and Lucas Bruder from Jito. Additional backers comprise Lucas Netz from Pudgy Penguins, Robert Leshner from Superstate, Tarun Chitra from Gauntlet, and Tory Green from io.net.

The funding represents a substantial commitment to Solana infrastructure. Forward Industries maintains a market capitalization of nearly $50 million, making the $1.65 billion raise significantly larger than the company’s current valuation. This disparity highlights the scale of institutional interest in SOL accumulation strategies.

Leadership Changes Signal Strategic Shift

Completing the private investment in public equity deal triggered board restructuring at Forward Industries. Kyle Samani, co-founder of Multicoin Capital, assumed the Chairman role. Chris Ferraro from Galaxy Digital and Saurabh Sharma from Jump Crypto joined as board members.

Interim CEO Michael Prutti will continue in his current position. The appointments reflect growing influence from major digital asset firms over Forward’s strategic direction. Existing management teams remain responsible for day-to-day operations.

The Solana ecosystem continues expanding with technical improvements. The Alpenglow proposal aims to enhance network speed and efficiency. Such developments support long-term growth prospects for the blockchain platform.

Another Solana treasury company, SOL Strategies, recently received approval for Nasdaq listing. This trend indicates increasing public market exposure for Solana-focused investment vehicles. The growing institutional presence could accelerate SOL adoption and improve market liquidity.