{"content":"🏦 $1.65B For Solana? Forward Industries Ignites Major SOL Surge The $1.65 billion PIPE investment by Forward Industries creates a Solana reserve. Galaxy Digital, Jump Crypto, and Multicoin Capital raised $300 million for the effort. Following Forward Industries (FORD)'s $1.65 billion PIPE transaction to form a SOL treasury, Solana (SOL) achieved a seven-month high of $228 on Thursday. Following a $1.65 billion PIPE transaction, Nasdaq-listed Forward Industries will create a Solana treasury After Galaxy Digital, Multicoin Capital, and Jump Crypto invested $300 million, other digital asset investment businesses supported the offering. Investors included Bitwise Asset Management, Borderless Capital, Coinlist Alpha, CyberFund, FalconX, Jupiter, and Big Brain Holdings. Multicoin Capital co-founder and managing partner Kyle Samani is Forward Industries' board chairman, while temporary CEO Michael Pruitt is board director. The business revealed its Solana treasury strategy on Monday and expects to utilize net funds from the sale to buy SOL for its treasury and working capital. “Forward Industries’ mission has been centered around operational and innovative excellence, and we are now building a balance sheet with SOL at its core,” added Pruitt. Galaxy Digital may have started assisting Forward Industries buy SOL, according to on-chain documents. Lookonchain said that Galaxy Digital removed 1.45 million SOL, valued $326 million, from Binance and other exchanges on Thursday. The Strategic Solana Reserves website reports that Sharps Technology, DeFi Development Corp, and Upexi have increased their SOL treasury strategy in recent months, holding 8.9 million SOL worth $2 billion. Forward Industries might surpass Sharps Technology as the top Solana corporate treasury with a $1.65 billion SOL stockpile. In a Tuesday letter, Bitwise CIO Matt Hougan said that corporate reserves and strong expectations for US spot Solana ETF certification might spark an end-of-year rally for SOL. #sol #solana #AltcoinMarketRecovery #ETHWhaleWatch #Write2Earn $BTC $SOL $ETH ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025092025/09/11/6127c2a404d141c08f1f320557095248.png"],"tags":[],"tradingPairs":["ETH/USDT"],"quotearticleid":0}