Pantera Capital to raise $1.25 billion for solana treasury

Solana treasuries are continuing to gain momentum, and Pantera Capital wants to be the newest entrant, reportedly raising up to $1.25 billion to transform a Nasdaq-listed company into a solana treasury, according to The Information.

The new firm, to be named Solana Co., will raise an initial sum of $500 million, with the “ability to raise another $750 million through warrants.” This could represent the largest solana treasury in the world. Pantera itself plans to invest $100 million in the deal.

Solana, the sixth-largest crypto, with a $103 billion market cap, is down 3.4% in the past 24 hours.

Yesterday, Sharps Technology announced its goal to create “the largest Solana Digital Asset Treasury Strategy to date,” funded by a $400 million PIPE deal with the backing of several firms, including Pantera.

Pantera said earlier this month that it had deployed more than $300 million in digital asset treasury companies “across various tokens and geographies.”

In other solana news, Canary Capital filed an S-1 form with the SEC for a spot $TRUMP coin ETF today. The solana-based coin, launched in January, is down 88.7% since its launch.

“There is no assurance that interest in or demand for $TRUMP will continue to grow. A contraction in market interest, changes in political sentiment, or adverse publicity could result in increased volatility or a reduction in the price of $TRUMP, which could adversely impact the value of the shares,” the filing reads.