janover’s Crypto Pivot: From Real Estate Loans to Solana Validator Network
Janover (JNVR), a small software company, has made a surprising move into the crypto world. The firm, which connects real estate borrowers with lenders, announced a new digital asset strategy on April 7. A group of former Kraken executives acquired a controlling stake and raised $42 million in funding.
Janover plans to rebrand as DeFi Development Corporation and focus on Solana (SOL). The company will hold SOL tokens as its core treasury asset and operate validator nodes on the Solana network. This shift led to a massive 842% stock jump in less then 24 hours.
Before the announcement, JNVR traded at $4.44. After the news, it surged to $48.47 and closed at $40.25. Trading volume spiked from a few thousand shares to over 25 million, driven by retail interest.
Founded in 2018, Janover initially focused on financial technology for commercial real estate. It went public on NASDAQ in July 2023 but remained a small player. The new direction involves holding SOL tokens and running validator nodes to earn rewards.
Janover’s crypto-focused overhaul aims to build a stronger connection with the solana ecosystem. this could involve developing software tools for blockchain-based projects or integrating real estate finance with decentralized infrastructure.
Janover Embraces Crypto with Solana Focus
Janover is making a bold move into the crypto space. The company is acquiring Solana (SOL) and participating in its validation process. This shift is led by a new executive team with deep crypto expertise.
Joseph Onorati, the new Chairman and CEO, comes from Kraken. he plans to start buying SOL and running validators right away. Parker White, the new CIO and COO, will manage the company’s crypto assets. He has experience running a Solana validator with $75 million in delegated stake. His role will be crucial in handling both crypto assets and staking infrastructure.
Marco Santori, a former Kraken executive, joins the board. he will help the firm navigate regulatory challenges. The original leadership stays on, focusing on the real estate SaaS business.
onorati aims to transform Janover’s treasury into a digital asset model. He told CNBC that this strategy will start instantly. White brings engineering and finance skills. He previously managed a $2 billion bond portfolio and a Solana validator. Santori,a legal expert,will guide compliance as the company enters the digital asset world.
Janover’s approach is part of a growing trend. Companies are now holding digital assets as reserves. MicroStrategy, such as, holds over 500,000 BTC. GameStop and Metaplanet are also exploring crypto strategies.
Janover’s decision to focus on Solana is significant. It’s the first U.S. firm to use SOL as its primary reserve asset. This move could set a new standard for corporate treasury management in the crypto space.
Solana’s price has been volatile recently. It started at $96.50 and reached $112.30,a 11% increase. This rise seems linked to broader market news, like trade tariffs.
