Pantera Capital to create Solana treasury $1.25 billion worth

Pantera Capital in search of $1.25 billion to turn the Nasdaq-listed company into Solana Co. — a public instrument designed to accumulate Solana tokens as a treasury asset. A media outlet called The Information claims that Pantera will start by raising $500 million and then another $750 million through warrants.

Earlier this month, Pantera reported investing about $300 million in digital asset treasury (DAT) companies: various tokens and platforms to generate revenue and grow net asset value.

Pantera’s DAT portfolio includes eight cryptocurrencies, including Solana, with stakes in Twenty One Capital, DeFi Development Corp, and Sharplink Gaming. Earlier this week, Pantera joined ParaFi Capital in backing Sharps Technology — Solana’s treasury instrument, which is aiming to raise $400 million.

Over the past few months, a number of smaller Nasdaq-listed companies have also turned to Solana treasuries. Real estate financing platform DeFi Development Corp, formerly known as Janover, has transformed itself into an AI services company. It doubled its holdings to more than 163,000 SOLs worth about $21 million.

Edtech company Classover acquired about 6,500 SOLs as the first step in a plan supported by a $500 million convertible note program, also with the aim of acquiring and staking SOLs.

Canadian companies such as SOL Strategies and Torrent Capital are holding $62 million and $6.4 million, respectively.

To date, the total value of Solana’s public holdings is over $695 million, representing about 0.69% of SOL’s total.

Source: The Information