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    "title": {
        "rendered": "Galaxy, Jump, Multicoin lead Forward Industry\u2019s $1.65B Solana treasury raise"
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        "rendered": "<div data-gtm-locator=\"articles\" data-v-43e640e6>\n<article id=\"article-214453\" data-v-43e640e6>\n<p itemprop=\"description\" data-v-43e640e6> Forward Industry\u2019s $1.6 billion SOL corporate treasury would be nearly triple the size of the largest existing Solana reserve. <\/p>\n<div data-v-43e640e6><picture><source media=\"(min-width: 1200px)\" ><source media=\"(min-width: 992px)\" ><source media=\"(min-width: 768px)\" ><source media=\"(min-width: 480px)\" ><img  loading=\"eager\" fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1434\/https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/019659fd-b680-7ca7-a1d0-d1f18936ad3c\" alt=\"Galaxy, Jump, Multicoin lead Forward Industry\u2019s $1.65B Solana treasury raise\"><\/picture><\/div>\n<div data-v-43e640e6>\n<div data-v-43e640e6>\n<p>Nasdaq-listed design and manufacturing company Forward Industries secured $1.65 billion in cash and stablecoin commitments to launch a Solana-focused crypto treasury strategy.\u00a0<\/p>\n<p>The company <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250907677362\/en\/Forward-Industries-Inc.-Announces-%241.65-Billion-Private-Placement-in-Cash-and-Stablecoin-Commitments-Led-by-Galaxy-Digital-Jump-Crypto-and-Multicoin-Capital-to-Initiate-Solana-Treasury-Strategy\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.businesswire.com\/news\/home\/20250907677362\/en\/Forward-Industries-Inc.-Announces-%241.65-Billion-Private-Placement-in-Cash-and-Stablecoin-Commitments-Led-by-Galaxy-Digital-Jump-Crypto-and-Multicoin-Capital-to-Initiate-Solana-Treasury-Strategy\">said<\/a> Monday that it raised the largest Solana (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/solana-price-index\" rel=\"https:\/\/cointelegraph.com\/solana-price-index\" target=\"https:\/\/cointelegraph.com\/solana-price-index\" title=\"https:\/\/cointelegraph.com\/solana-price-index\">SOL<\/a>) treasury to date, led by crypto-native companies Galaxy Digital, Jump Crypto and Multicoin Capital. Other participants included C\/M Capital Partners, which is one of Forward Industries\u2019 existing shareholders.\u00a0<\/p>\n<p>This follows a Bloomberg report in late August saying the three crypto giants were <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/galaxy-digital-multicoin-jump-crypto-1b-solana-treasury\" title=\"null\">planning to raise $1 billion<\/a> and take over a publicly-traded company to create the biggest crypto treasury dedicated to Solana.<\/p>\n<p>According to the announcement, Forward plans to position itself as a publicly traded institutional vehicle. It plans to generate onchain returns and long-term value by participating in the Solana ecosystem.<\/p>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"17793750\"><\/template><\/p>\n<h2>Galaxy, Jump and Multicoin to support the Forward Industries<\/h2>\n<p>Forward said Galaxy Digital will provide treasury management, trading, lending and staking services. Jump Crypto will support infrastructure through projects such as Firedancer and DoubleZero, while Multicoin Capital will offer strategic guidance and governance.<\/p>\n<p>Multicoin co-founder and managing partner Kyle Samani is expected to be chair of Forward Industries\u2019 board of directors.\u00a0<\/p>\n<p>Samani said the move reflects conviction in Solana\u2019s resilience and growth potential, arguing that an institutional-scale treasury can \u201cincrease SOL per share at a faster rate than simply being a passive holder.\u201d<\/p>\n<p>He also said SOL is still misunderstood and discounted by market participants despite being resilient. \u201cI believe this asymmetry creates tremendous opportunity for a Solana treasury strategy,\u201d Samani added.\u00a0<\/p>\n<p><em><strong>Related: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/michael-saylor-strategy-buys-217-million-bitcoin\" title=\"null\"><em><strong>Michael Saylor\u2019s Strategy buys $217M in Bitcoin as price holds strong<\/strong><\/em><\/a><\/p>\n<h2>Forward Industries to become the largest SOL treasury<\/h2>\n<p>Forward\u2019s $1.6 billion Solana reserve would nearly triple the size of the <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/crypto-treasury-companies-buying-solana-staking-rewards\" title=\"null\">largest existing Solana treasury<\/a>. At the time of writing, supply chain management brand Upexi holds the largest SOL holdings with 2 million SOL tokens, worth about $430 million at current market prices.\u00a0<\/p>\n<p>Following this, the DeFi Development Corporation said on Aug. 4 that it held 1.29 million SOL, worth about $280 million. In July, Bitcoin mining firm Bit Mining announced plans to raise between $200 and $300 million to <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/bit-mining-solana-pivot-300m-strategy\" title=\"null\">build a SOL token treasury<\/a>.\u00a0<\/p>\n<p><iframe width=\"100%\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/4N4PzNL8Syw?start=\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen loading=\"lazy\"><\/iframe><\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/magazine\/astrology-could-make-you-better-crypto-trader-heres-why\/\" title=\"null\"><em><strong>Astrology could make you a better crypto trader: It has been foretold<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p><img decoding=\"async\" alt src=\"https:\/\/zoa.cointelegraph.com\/pixel?postId=214453&#038;regionId=1\" data-v-43e640e6><\/p>\n<\/div>\n<\/div>",
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        "rendered": "<p>Forward Industry\u2019s $1.6 billion SOL corporate treasury would be nearly triple the size of the largest existing Solana reserve. Nasdaq-listed [&hellip;]<\/p>",
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