The SOL Treasury Race Is On

While there hasn’t been any official announcement of this yet, Rich Widmann, Google’s Web3 Head of Strategy, spilled some deets on LinkedIn just yesterday. With the rise of corporate chains from companies like Stripe, Circle, Coinbase, Robinhood, Tether, and Kraken – Google building its own chain (currently just a private testnet) should come as no surprise. Every L1 is a bet that controlling the base layer yields better economics, product fit, and value capture than building on someone else’s rails. Read more →

Solana (SOL) treasury vehicles are starting to gain momentum. Fresh off of news that Galaxy (GLXY), Multicoin Capital and Jump Crypto are looking to raise $1 billion to accumulate Solana, as well as Sharps Technology raising $400 million to do the same, Pantera Capital is entering the race. The fund is reportedly raising $1.25 billion SOL through a new firm named Solana Co., which will raise an initial sum of $500 million, with the “ability to raise another $750 million through warrants.” If completed, Solana Co. would become the largest SOL treasury company in the world... for now. Read more →

Numerai, a quant hedge fund that crowdsources stock-picking models from thousands of freelance finance quants, is poised to more than double in size with a big influx of cash from JPMorgan Asset Management. The entire concept is interesting: contributors submit predictions and stake NMR tokens to signal confidence – earning more tokens when their models help and losing some when they don’t. Meanwhile, Numerai blends the best signals in a single portfolio that obviously got the attention of JPMorgan, after the fund delivered a 25% net return last year. NMR is up 90% since the headline. Read more →

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