DeFi Development Corporation Invests Additional $9.9 Million in Solana, Appoints Former Binance Executive as CFO
Miami, Florida – DeFi Development Corporation (Nasdaq: JNVR), the publicly traded company formerly known as Janover, has announced two strategic moves to strengthen its financial operations and expand its digital asset portfolio. The company announced that it has purchased approximately $9.9 million worth of Solana tokens (SOL), and has appointed Fei "John" Han, former Vice President at Binance, as its Chief Financial Officer (CFO).
Han, with over 15 years of experience in finance and cryptocurrency, has held senior positions at major exchanges such as Binance and Kraken. In his new role, he will lead the company's overall financial strategy, with a particular focus on optimizing its digital asset treasury.
In addition, Mr. Dan Kang has been appointed as Head of Investor Relations. With a strong background in strategy and capital markets, Mr. Kang will play a key role in maintaining shareholder engagement and promoting financial transparency.
In parallel with the leadership consolidation, DeFi Development Corporation said it has purchased an additional 65,305 SOL tokens, bringing its total SOL holdings to approximately 317,273 units – equivalent to nearly $48.2 million at current market prices. The transaction was conducted via Bitgo’s OTC desk and includes locked SOL tokens.
“Expanding our treasury with Solana assets aligns with our long-term vision of building a flexible financial strategy that is embedded in thriving blockchain ecosystems,” said a company representative.
DeFi Development Corporation’s increased investment in Solana comes as the ecosystem is witnessing a surge in user activity, dApp development, and global adoption. The decision to add SOL to its treasury is seen as a signal that the company is positioning itself to capitalize on the new wave of growth in the Web3 and DeFi space.
The combination of expanding its digital assets and hiring seasoned professionals means that DeFi Development Corporation is steadily strengthening its position as one of the leading financial institutions in integrating blockchain into its corporate governance strategy.