Another Public Company Goes All-In on Solana With Billion-Dollar Treasury

The initiative is backed by some of the biggest names in crypto investing — Galaxy Digital, Jump Crypto, and Multicoin Capital — in what could become one of the most significant institutional endorsements of the Solana ecosystem so far.

A Different Kind of Corporate Treasury

Instead of following the well-trodden path of building reserves in Bitcoin or Ethereum, Forward is leaning into Solana’s growing role in decentralized finance and tokenized assets. The company says the treasury will be “active,” suggesting it won’t just hold SOL passively but will engage directly in the network’s growth.

CEO Michael Pruitt framed the move as both a shareholder value play and a conviction bet on Solana’s technology. “Solana has proven itself as one of the most innovative blockchains in the market,” he said, arguing that this step aligns Forward’s balance sheet with long-term digital adoption.

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Strategic Muscle Behind the Deal

The investment also reshapes Forward’s leadership. Multicoin’s Kyle Samani is expected to assume the role of chairman, while Galaxy’s Chris Gerraro and Jump Crypto’s Saurabh Sharma will participate as board observers. Their presence gives the firm access to a network of seasoned investors already entrenched in Solana’s ecosystem.

Cantor Fitzgerald is managing the placement, with Galaxy’s investment banking arm serving as co-advisor — signaling Wall Street’s growing comfort in facilitating large-scale crypto treasury moves.

Conclusion

Solana has seen explosive developer activity and adoption in 2025, emerging as one of Ethereum’s fiercest competitors. By aligning its treasury directly with SOL, Forward is effectively making the blockchain’s growth story its own. The company now positions itself not just as a product manufacturer but as a public-market proxy for exposure to Solana’s rise.

For investors, the announcement highlights how corporate treasury strategies in crypto are evolving — moving from simple Bitcoin stockpiling toward selective bets on the ecosystems they believe will define the next phase of blockchain adoption.

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