Galaxy Digital, Multicoin, Jump Crypto Target $1B Solana Treasury

Digital asset heavyweights Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly teaming up to raise $1 billion for a Solana treasury, a move that could reshape the network’s corporate reserves.

Market Reaction

Solana’s token (SOL) currently trades at $197.82, up 6.6% in the last 30 days, with a market cap ranking it sixth globally. A $1B corporate treasury could add significant liquidity and institutional weight to the network, further cementing its position after recovering from the FTX collapse.

Building the Largest Solana Reserve

The move would create the biggest Solana treasury in existence, more than doubling the current leader, Upexi, which holds 2 million SOL (~$400M). DeFi Development Corporation follows with 1.29 million SOL (~$240M), while Bitcoin miner Bit Mining recently announced plans to raise $200–300M for its own Solana reserve.

By comparison, the proposed $1B stash by Galaxy, Jump, and Multicoin would dwarf all existing treasuries, signaling renewed confidence in Solana’s ecosystem.

Skepticism & Risks

While this initiative signals strong institutional backing, concerns remain:

• The move concentrates a massive amount of SOL under three firms, raising decentralization questions.
• Market watchers recall the FTX collapse, where large SOL holdings became a source of volatility.
• Execution risk exists particularly with the reported plan to acquire a publicly traded vehicle to structure the treasury.

Outlook

If Galaxy, Jump, and Multicoin succeed, Solana would not only gain the largest corporate treasury in crypto outside of Bitcoin and Ethereum but also send a message to Wall Street that Solana has transitioned from a post-FTX survivor to a serious institutional-grade asset.