Forward Industries Makes Bold Move: Acquires and Stakes 6.8 Million Solana Tokens
Corporate giant bets big on blockchain future with massive Solana acquisition.
Strategic Positioning
Forward Industries just dropped 6.8 million SOL into its treasury—locking up tokens while sending shockwaves through traditional finance circles. The move signals institutional confidence in Solana's scaling capabilities and defi ecosystem.
Market Impact
Staking that volume pulls serious liquidity off exchanges—potentially tightening supply as network activity hits new highs. Traders are watching for price pressure while validators cheer the delegation boost.
Because nothing says 'financial innovation' like corporations chasing crypto yields while traditional banks still can't figure out their KYC forms.
FORD Solana purchases
According to the announcement, the SOL tokens were acquired at an average purchase price of $232 per token, bringing the total investment to about $1.58 billion.
Backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, FORD emphasized that this move signals the start of a long-term plan to capture value from what it views as one of the fastest-growing blockchain ecosystems.
Kyle Samani, chairman of FORD’s board, explained that the purchase was not just a balance sheet expansion but a deliberate strategy to “advance the Solana ecosystem and deliver long-term value for our shareholders.”
He added:
“Today’s purchase marks a significant milestone as Forward Industries begins executing its differentiated Solana treasury strategy, built to benefit from one of the fastest growing and most profitable blockchain networks.”
Meanwhile, the company emphasized that its SOL purchases were “non-locked SOL [that were acquired] through a combination of open market purchases and on-chain transactions.” This marks the first use of proceeds from its recently closed $1.65 billion private investment in public equity (PIPE) financing round.
Notably, several on-chain analysis platforms, including Lookonchain, had reported that the asset management firm Galaxy Digital had gone on a five-day buying spree of 6.5 million SOL tokens for $1.5 billion.
The company also highlighted one particular transaction: a $1 million trade executed via DFlow, a Solana-based decentralized exchange aggregator.
That deal, it said, represents the first of many expected on-chain deployments, demonstrating its flexibility to operate across multiple venues rather than rely solely on traditional markets.
