A $1.65 billion war chest for Solana is now live in public markets. Forward Industries (NASDAQ: FORD) closed one of the largest PIPE financings in crypto to date—funded entirely in cash and stablecoins—to establish what sponsors call “the world’s largest Solana digital asset treasury strategy,” with proceeds earmarked primarily to purchase SOL and then actively deploy it across staking, lending and other on-chain strategies.

The deal was led by Galaxy Digital, Jump Crypto and Multicoin Capital; the trio collectively subscribed for more than $300 million. As part of the transaction, Multicoin’s Kyle Samani was appointed chairman of Forward’s board, while Galaxy President/CIO Chris Ferraro and Jump Crypto CIO Saurabh Sharma joined as board observers.

Galaxy And Partners Build Largest Solan

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