Janover, a fintech company focused on real estate, has made a bold move by shifting its treasury strategy towards cryptocurrency, specifically Solana (SOL). The company recently acquired 80,567 SOL tokens, valued at about $10.5 million, bringing its total holdings to 163,651 SOL, worth roughly $21 million. This makes Janover the first publicly traded U.S. company to focus its treasury on Solana.
This decision comes after a group of former Kraken executives, led by Joseph Onorati and Parker White, took majority ownership of Janover earlier this month. Onorati, the former chief strategy officer at Kraken, now serves as the chairman and CEO of Janover. White, Kraken’s former engineering director, has assumed the roles of chief investment officer and chief operating officer.
Onorati explained the move, stating, “After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption. We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets, initially focused on Solana.” This signals Janover’s commitment to innovation in the cryptocurrency sector.
Janover’s pivot to Solana follows a trend seen in the financial world, notably by business intelligence firm Strategy (formerly MicroStrategy), which became known for its significant Bitcoin acquisitions. However, Janover is distinguishing itself by being the first U.S. firm to adopt a treasury strategy centered on Solana, which is gaining traction in the crypto market.
Since the announcement of this new strategy on April 4, 2025, Janover’s stock price has skyrocketed by over 1,700%. The stock, which had been trading at around $4-$5 per share, surged to $73.74 on April 15, 2025, following the latest SOL acquisition. This dramatic increase reflects growing investor confidence in Janover’s bold new direction and the rising interest in Solana.
In addition to its cryptocurrency holdings, Janover has entered into a partnership with Kraken. This collaboration, formalized through a non-binding letter of intent, will allow Kraken to delegate a portion of its staked SOL tokens to validators operated by Janover, enhancing the company’s operational capabilities and supporting its treasury strategy.
Janover’s activities have also contributed to Solana’s performance in the broader cryptocurrency market. Over the past week, Solana outperformed major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP, with a gain of over 20%. In comparison, BTC, ETH, and XRP saw increases of 10%, 11%, and 17%, respectively. As of April 16, 2025, SOL is trading at $126, a 2% decrease in the Asian trading session.
Despite its focus on cryptocurrency, Janover will continue its core real estate operations. The company’s AI-powered commercial real estate platform remains under the leadership of founder Blake Janover and chief financial officer Bruce Rosenbloom. This dual focus on both real estate and digital assets positions Janover as a unique player in the fintech space.
Janover recently raised $42 million through convertible notes and warrants to fund its Solana acquisition strategy, further cementing its commitment to digital assets. The partnership with Kraken further strengthens Janover’s position in the crypto world. Onorati praised Kraken, noting its reputation for principled and mission-driven operations.
As Janover pushes forward with its Solana strategy, it’s poised to make significant progress in both real estate and cryptocurrency markets. The company’s innovative approach and strategic partnerships suggest it will continue to grow in the evolving fintech landscape, influencing both traditional finance and the digital asset sector.
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