Former Kraken executives acquire real estate firm Janover, unveil SOL treasury strategy
A group of former Kraken executives has taken control of Janover, a real estate financing firm that connects lenders with commercial property buyers.
Joseph Onorati, formerly Kraken’s chief strategy officer, has been named chairman and CEO, while Parker White, ex-director of engineering at Kraken, steps in as the new chief investment and operating officer. Former chief legal officer Marco Santori will also join the board. The new ownership group acquired 728,632 shares of Janover common stock and all 10,000 shares of its Series A preferred stock. Following the announcement, Janover’s stock price skyrocketed by 840% on April 7, highlighting strong market optimism for its strategic transformation, reports Cointelegraph.
SOL treasury strategy and crypto integration
Under its new leadership, Janover is setting its sights on creating a dedicated treasury reserve for Solana (SOL). The company’s strategy includes acquiring SOL validators, staking SOL tokens, and making additional token purchases to bolster its digital asset holdings. This initiative comes as part of a broader trend, with several publicly traded firms—such as Japan’s Metaplanet and even Tesla—integrating digital assets into their balance sheets.
In a parallel move, Janover successfully raised $42 million through a convertible note offering, attracting investments from Pantera Capital, Kraken, Arrington Capital, Protagonist, Third Party Ventures, among others. Additionally, Janover has started accepting payments for its real estate services in Bitcoin, Ether, and SOL, underscoring its commitment to merging traditional finance with the evolving crypto landscape.
As Janover embarks on its bold new strategy, industry observers will be watching closely to see if its ambitious SOL treasury plans can drive sustained value and bolster investor confidence amid persistent market volatility.
Read also: Solana price gains momentum thanks to PayPal support
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