Former Kraken Execs Lead Janover’s Rebrand as DeFi Development Corporation Bets Big on Solana
In a bold strategic pivot, Janover has officially rebranded as DeFi Development Corporation (DDC) and is doubling down on Solana as a core component of its digital asset treasury strategy. The move comes under the leadership of former Kraken executives, who took the reins earlier this month following the firm’s acquisition.
On Tuesday, DDC announced the purchase of 88,164 additional Solana (SOL) tokens, valued at approximately $11.5 million, bringing its total SOL holdings to about $34.4 million. This acquisition follows a recent $42 million capital raise, positioning the company for long-term engagement with the Solana ecosystem.
DDC’s investment is more than just a portfolio allocation—it’s part of a broader strategy to actively participate in the Solana network by running validators and staking assets, turning its treasury into a productive component of the blockchain’s infrastructure. The firm also signaled plans to eventually diversify into other digital assets, emphasizing a “long-term accumulation” model.
This Solana-centric approach places DDC among a growing group of publicly traded companies aligning with the high-performance blockchain. Solana, which has experienced a strong resurgence since 2023 thanks to viral apps like Pump.fun, is increasingly seen as a viable alternative to Ethereum, particularly for firms seeking higher performance and yield opportunities.
Notably, Sol Strategies, previously known as Cypherpunk Holdings, adopted a similar thesis after rebranding in 2023. Likewise, Galaxy Digital has made waves by reallocating over $100 million from Ethereum into Solana in recent weeks, as Ethereum faces challenges in price stability and market dominance.
DDC’s strategy stands in contrast to Michael Saylor’s well-known Bitcoin playbook. While Saylor focuses on holding BTC as a passive asset, firms like DDC are treating Solana as an active, yield-generating asset through staking—drawing parallels to the role of Bitcoin miners, who secure networks while earning rewards.
The trend is gaining traction. Consumer-focused company Upexi also unveiled a Solana-aligned plan this week, further highlighting institutional momentum behind the blockchain.