Forward Industries announces $1.65 billion in private equity financing to launch Solana's treasury strategy

Foresight News, Forward Industries, Inc. (NASDAQ: FORD) announced a $1.65 billion cash and stablecoin private funding, led by Galaxy Digital (NASDAQ: GLXY), Jump Crypto and Multicoin Capital to launch its digital asset treasury strategy for Solana. This is the largest digital asset treasury financing to date for Solana. Kyle Samani, managing partner at Multicoin Capital, will serve as chairman of the board after the private placement financing is completed.

Galaxy, Jump Crypto and Multicoin will provide funding and strategic support to help Forward Industries build and execute its Solana treasury strategy with the goal of positioning it as a leading listed institutional player in the Solana ecosystem. Forward Industries aims to generate differentiated on-chain returns and create long-term value for shareholders through active participation in the Solana ecosystem.

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