DeFi Development, previously known as Janover, is setting the stage for a major strategic leap as it looks to raise up to $1 billion through a broad securities offering aimed at accelerating its Solana (SOL) investment initiatives. The move, detailed in a fresh SEC filing, signals the company’s pivot from its past as a real estate-focused fintech firm to a blockchain-driven financial services company. Proceeds from the offering, which could include common shares, preferred shares, debt instruments, warrants, and units, will primarily be used for general corporate purposes — with a strong emphasis on acquiring more Solana tokens. This is not merely an investment plan but a bold attempt to embed the company more deeply into the Solana network by operating validators and earning staking rewards.
DeFi Development’s transformation is being orchestrated by an entirely revamped leadership team featuring major names from the cryptocurrency world. Joseph Onorati, a former executive at Kraken, now serves as CEO and Chairman, while Parker White, another Kraken alum, has taken over as COO and CIO. Completing the leadership triad, John Han — who previously worked at Binance and Kraken — has assumed the role of CFO. Together, these executives have devised a treasury management strategy focused heavily on Solana, setting the stage for DeFi Development’s next growth phase. Already, the company boasts holdings of around $48.2 million worth of Solana, with intentions to expand rapidly.
In addition to the shelf registration, DeFi Development secured a $500 million convertible note facility to turbocharge its investment ambitions. Furthermore, it has filed for the registration of 1.24 million shares to accommodate early investors and insiders, including prominent crypto players such as Pantera Capital, Arrington Capital, and Payward (Kraken’s parent company). These moves demonstrate the firm’s aggressive commitment to scaling within the blockchain sector. As it builds validator infrastructure and aligns itself with institutional investors, DeFi Development is betting that Solana’s growing role in decentralized finance will yield strong long-term returns. With the firm’s full rebranding and capital markets strategy now underway, DeFi Development is on course to become one of the leading public companies with concentrated Solana exposure.
