What to know:
- The three crypto firms have joined hands and have hired Cantor Fitzgerald as the lead banker, the report said.
- They plan to buy out a listed firm and create a digital asset treasury company, the report added.
- The combined firm will take on the Toronto-listed SOL Strategies, which recently has filed for a Nasdaq-listing.
In this article
BTCBTC$111,732.39◢2.66%These firms – Galaxy Digital, Multicoin Capital, and Jump Crypto – are aiming to gather around $1 billion for the establishment of a treasury specifically focused on investing in Solana’s native cryptocurrency, SOL. This information comes from reports by Bloomberg published on Monday.
As an analyst, I can share that I’ve learned about a collaborative initiative among three crypto firms who have appointed Cantor Fitzgerald as their lead banker. The goal of this alliance is to acquire a publicly-traded company and establish a Digital Asset Treasury Company, according to sources familiar with the situation.
Lately, there’s been a surge of interest in digital asset treasuries, as numerous companies are adopting strategies similar to those pioneered by Michael Saylor’s Bitcoin-holding company, MicroStrategy (MSTR).
As I write this, neither Galaxy, Multicoin, nor Jump have yet provided a response to CoinDesk’s request for comment.
According to the report, it’s anticipated that the agreement will be finalized by early September, following approval from the Solana Foundation.
The merged entity plans to acquire Toronto-traded SOL Strategies, a company that has recently applied for listing on Nasdaq.
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2025-08-25 13:29