Asset manager Teucrium Investment Advisors is set to launch the first XRP-based exchange-traded fund in the US markets, a leveraged XRP (ETF) on the NYSE Arca.

The Teucrium 2x Long Daily XRP ETF will seek to offer investors two times the daily return of the XRP (XRP) token with a 1.85% management fee and annual expense ratio, according to the company’s website. The XRP-based ETF will trade under the XXRP ticker beginning April 8.

“If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the alternative asset manager said.

XXRP currently has $2 million worth of net assets.

Details of Teucrium’s soon-to-be-launched XXRP ETF. Source: Teucrium

Teucrium founder and CEO Sal Gilbertie told Bloomberg on April 7 that investors had shown strong interest in an XRP ETF and hinted that it may file to list more crypto ETFs in the future.

Gilbertie was also pleased that XXRP would launch during a market downturn driven largely by US President Donald Trump’s tariffs.

“What better time to launch a product than when prices are low?” Gilbertie told Bloomberg.

Likelihood of an approved spot XRP ETF still high: Analyst

Bloomberg ETF analyst Eric Balchunas said it was “very odd” to see a new asset’s first ETF come in leveraged form — however, he added that the odds of a spot XRP ETF being approved remain “pretty high.”

Source: Eric Balchunas

Several spot XRP ETF applications from the likes of Grayscale, Bitwise, Franklin Templeton, Canary Capital and 21Shares are being reviewed by the Securities and Exchange Commission.

In February, Balchunas and fellow Bloomberg ETF analyst James Seyffart attributed 65% approval odds to a spot XRP ETF in 2025.

Predictions market Polymarket states there is currently a 75% chance that the SEC will approve a spot XRP ETF in 2025.

Related: XRP price sell-off set to accelerate in April as inverse cup and handle hints at 25% decline

Up until recently, ETF issuers would have seen a different environment for filing for XRP ETFs as Ripple Labs — the creators of the XRP token — and the SEC battled out a four-year court battle over XRP’s security status.

That case came to a close last month.

Teucrium has amassed over $310 million worth of assets under management since it was founded in 2010.

It offers mostly agricultural commodities, such as ETFs tracking the likes of corn, soybeans, sugar and wheat.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

Asset manager Teucrium Investment Advisors is set to launch the first XRP-based exchange-traded fund in the US markets, a leveraged XRP (ETF) on the NYSE Arca.

The Teucrium 2x Long Daily XRP ETF will seek to offer investors two times the daily return of the XRP (XRP) token with a 1.85% management fee and annual expense ratio, according to the company’s website. The XRP-based ETF will trade under the XXRP ticker beginning April 8.

“If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the alternative asset manager said.

XXRP currently has $2 million worth of net assets.

Details of Teucrium’s soon-to-be-launched XXRP ETF. Source: Teucrium

Teucrium founder and CEO Sal Gilbertie told Bloomberg on April 7 that investors had shown strong interest in an XRP ETF and hinted that it may file to list more crypto ETFs in the future.

Gilbertie was also pleased that XXRP would launch during a market downturn driven largely by US President Donald Trump’s tariffs.

“What better time to launch a product than when prices are low?” Gilbertie told Bloomberg.

Likelihood of an approved spot XRP ETF still high: Analyst

Bloomberg ETF analyst Eric Balchunas said it was “very odd” to see a new asset’s first ETF come in leveraged form — however, he added that the odds of a spot XRP ETF being approved remain “pretty high.”

Source: Eric Balchunas

Several spot XRP ETF applications from the likes of Grayscale, Bitwise, Franklin Templeton, Canary Capital and 21Shares are being reviewed by the Securities and Exchange Commission.

In February, Balchunas and fellow Bloomberg ETF analyst James Seyffart attributed 65% approval odds to a spot XRP ETF in 2025.

Predictions market Polymarket states there is currently a 75% chance that the SEC will approve a spot XRP ETF in 2025.

Related: XRP price sell-off set to accelerate in April as inverse cup and handle hints at 25% decline

Up until recently, ETF issuers would have seen a different environment for filing for XRP ETFs as Ripple Labs — the creators of the XRP token — and the SEC battled out a four-year court battle over XRP’s security status.

That case came to a close last month.

Teucrium has amassed over $310 million worth of assets under management since it was founded in 2010.

It offers mostly agricultural commodities, such as ETFs tracking the likes of corn, soybeans, sugar and wheat.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

While crypto and stock markets are deep in the red this week, one memecoin is defying the trend and surging at the time of writing. 

Fartcoin (FARTCOIN) has surged a whopping 30% over the past 24 hours, topping $0.60 on April 8, according to CoinGecko. 

On April 7, the Solana-based memecoin hit a low of $0.42 amid the broader crypto market slump, which saw Bitcoin (BTC) prices fall below $75,000 to a five-month low. 

However, since then the token has gained more than 40% and is one of the crypto market’s top performers at the moment. 

Crypto trader “RookieXBT” told their 484,000 followers that Fartcoin volume was increasing “while the world falls apart,” adding, “No other coin is doing this.” 

The financial parody account “Not Jerome Powell” quipped, “hot air rises,” noting that every asset was down aside from Fartcoin.  

Stock markets across the globe slumped on April 7 in reaction to Donald Trump’s sweeping trade tariffs. 

S&P 500 tanked almost 10% over the past week. Source: Google Finance

The Fartcoin token, which launched in October with no utility, has defied the markets several times before by bouncing upward when other assets have tanked.   

Bitcoin dumped 6% on April 3 in a fall from above $87,000 to around $81,500. Fartcoin was one of the first to recover, surging 36% the following day. 

Additionally, the token saw its market capitalization top $1 billion in December during a wider slump for altcoins. 

Goldbug Peter Schiff responds to Fartcoin prices. Source: X

It hit an all-time high of $2.48 during the peak of the memecoin frenzy in mid-January. However, it has since retreated 76% from those levels as the memecoin bubble burst. 

Other memecoins also bounce upward

A related Solana memecoin based on a comic book character called Fartboy (FARTBOY) is also surging, having gained 60% to top $0.03 on April 8, according to CoinGecko. 

However, this memecoin is also down 85% from its mid-February peak. 

Related: Memecoins 2.0: The market crashed, but the billion-dollar circus rolls on

Other memecoins outperforming the wider crypto market at the moment include SPX6900 (SPX), which is up 11.5%; Cheems Token (CHEEMS), which has gained 10.5%; AI Companions (AIC), currently up 10%; and Mog Coin (MOG), which has surged 33% on the day. 

Even the memecoin stalwarts Dogecoin (DOGE) and Shiba Inu (SHIB) have outperformed Bitcoin over the past 24 hours. 

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Artificial intelligence and crypto investment firm Galaxy Digital has been given the nod from the US Securities and Exchange Commission to list on the Nasdaq stock exchange. 

The company, which is listed on the Toronto Stock Exchange (TSX), plans to relocate its home base from the Cayman Islands to Delaware, according to an April 7 statement from Galaxy, pending shareholder and TSX approval. 

“Our registration statement is now effective with the SEC. We’re on track to list on the Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go!” Galaxy CEO Michael Novogratz said in an April 7 statement to X.  

Source: Michael Novogratz

Galaxy anticipates listing on the Nasdaq under the ticker symbol GLXY shortly after the vote, with the transition to be completed by mid-May, contingent on meeting Nasdaq listing requirements.

Galaxy chooses Delaware for favorable corporate environment

In the SEC Form S-4, first filed on March 27, Galaxy said it chose Delaware for the relocation because it would provide “a favorable corporate environment,” which would help it “compete more effectively with other publicly traded companies.” 

The firm also chose Delaware because it’s the “choice of domicile for many publicly traded corporations,” has an abundance of case law to assist in interpreting the Delaware General Corporation Law (DGCL), and lawmakers frequently update the DGCL to reflect current technology and legal trends. 

After the change, Novogratz will maintain control of the company with nearly 60% of voting power, according to the filing.  

Galaxy Digital’s share price on the TSX was down 8% after the bell, trading at $12.30 Canadian dollars ($8.70), according to Google Finance. The stock was first listed in July 2015 and peaked at just under $50 Canadian dollars ($35) on Nov. 12, 2021.

Galaxy Digital’s share price on the TSX was down 8% after the TSX closed. Source: Google Finance

Galaxy recently agreed to pay $200 million in a settlement related to its alleged promotion of the now-collapsed cryptocurrency Terra (LUNA). 

Related: NYSE proposes rule change to allow ETH staking on Grayscale’s spot Ether ETFs

Other crypto firms are listed on the Nasdaq. Coincheck Group, the parent company of Japanese crypto exchange Coincheck, was one of the most recent, debuting on Dec. 11. 

Bitcoin-stacking investment firm Metaplanet has also been exploring a potential listing outside of Japan, such as the US, after CEO Simon Gerovich met with officials at the New York Stock Exchange and Nasdaq in March. 

Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express

Recent fake news that US President Donald Trump was considering a 90-day pause in tariffs shows the potential for a strong market rebound should a real one take place, according to observers. 

A fake news post on X on April 7 from the verified “Walter Bloomberg” account claimed that the White House was considering a 90-day pause on tariffs following an interview with Kevin Hassett, one of Donald Trump’s economic advisers. 

“Hassett: Trump is considering a 90-day pause in tariffs for all countries except China,” read the now-deleted post from the user, who is not affiliated with Bloomberg News. 

The account, which has a verified badge and 852,000 followers, caused quite a stir after the rumor was mistakenly aired as a banner on CNBC and then amplified by Reuters.

The S&P 500 spiked more than 8% from its low on the day in reaction, the Nasdaq added 9.5% in less than an hour and the Dow Jones pumped 7%, adding trillions to stock markets. 

Bitcoin (BTC) prices saw a similar spike, with the asset pumping 6.5% to top $80,000 briefly before falling back again. 

The official White House “Rapid Response” account quickly posted on X that this was fake news, and markets began to dump again. 

“Market ready to ape” at a moment’s notice

While the rumor was debunked as fake, crypto YouTuber Lark Davis said that the episode revealed some critical things about the market. 

The market is ready to accept prolonged China negotiations as long as most deals can be resolved, he said before adding the “market is ready to ape, even a lame 90-day delay sent markets soaring.”  

“Now imagine what happens when dozens of deals are made with top players ie, India, Canada, and the UK. Shit tons of money is on the sidelines, ready to ape in at a moment’s notice.”

“That fake headline might actually give Trump, Navarro, and Lutnick more confidence to keep pushing this further,” commented X user Geiger Capital, who added, “They now know that at any point they can announce a pause and the market will rally ~10% in a single day.”

What really happened in Hasset interview

Fox News asked Hasset whether Trump would consider a 90-day pause in tariffs and was given a non-committal response. “I think the president is gonna decide what the president is gonna decide,” he said, adding: “Even if you think there will be some negative effect from the trade side, that’s still a small share of GDP.” 

Related: Billionaire investor would ‘not be surprised’ if Trump postpones tariffs

“The idea that it’s going to be a nuclear winter or something like that is completely irresponsible rhetoric,” he said. 

KILMEADE: Would Trump consider a 90 days pause in tariffs?HASSETT: I think the president is gonna decide what the president is gonna decide … even if you think there will be some negative effect from the trade side, that’s still a small share of GDP pic.twitter.com/3KymvgOwQG

— Aaron Rupar (@atrupar) April 7, 2025

Shortly after the 90-day tariff pause post was deleted, Trump took to his own social media platform, Truth Social, to threaten China with even more tariffs. 

“If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, the United States will impose additional tariffs on China of 50%, effective April 9th,” he said. 

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Australia’s corporate watchdog has been given the nod to shut down 95 “hydra” companies that it suspects engaged in crypto investment and romance scams, known as “pig butchering.”

The Australian Securities and Investments Commission’s application to wind up the companies was approved by the Federal Court of Australia on just and equitable grounds after ASIC found that most of the companies had been incorporated with false information.

Many of these companies were set up purporting to provide “genuine services” but were instead believed to be scamming their victims, ASIC Deputy Chair Sarah Court said in an April 8 statement.

“There appears to be a common pattern of scam activity in the nature of ‘pig butchering,’” Justice Angus Stewart said in an April 4 court ruling after looking at 48 “Reviews of Misconduct” from 17 companies accused of facilitating romance scams. The judgment was made on March 21.

Source: Rocky Perrotta

Pig butchering scams involve scammers building fake relationships with victims to win their trust before convincing them to invest in a fraudulent crypto or financial scheme.

The securities regulator also suspects that much of the scam activity is coming from Southeast Asia.

Insolvency and restructuring advisers Catherine Conneely and Thomas Birch of Cor Cordis have been appointed as joint liquidators of the 95 companies.

Related: Australian regulator’s ‘blitz’ hits crypto exchanges, money remitters

Nearly 1,500 claims by “investors” had been received by the provisional liquidators, amounting to total claims of over $35.8 million, according to the court order.

The claimants are based in 14 countries, including Australia, the US, Cameroon, Ghana, India, Nepal, the Philippines and France.

The provisional liquidators found that only three of the 95 firms had assets to their name and recommended that the other 92 companies be wound up and immediately deregistered.

ASIC shutting down scam websites

ASIC said it has been removing around 130 scam websites each week of late, bringing its total to over 10,000 sites, which have included over 7,200 fake investment platform scams and 1,564 phishing scams.

“However, these scams are like hydras: you shut down one and two more take its place. That’s why we’re warning consumers that the threat of scams and identity fraud remains high. We remind consumers to be vigilant,” Court said.

Australia’s National Anti-Scam Centre recently reported a 26% fall in scam losses to $2 billion in 2024, while the number of scam reports also fell by 17.8% to 494,732.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Australia’s corporate watchdog has been given the nod to shut down 95 “hydra” companies that it suspects engaged in crypto investment and romance scams, known as “pig butchering.”

The Australian Securities and Investments Commission’s application to wind up the companies was approved by the Federal Court of Australia on just and equitable grounds after ASIC found that most of the companies had been incorporated with false information.

Many of these companies were set up purporting to provide “genuine services” but were instead believed to be scamming their victims, ASIC Deputy Chair Sarah Court said in an April 8 statement.

“There appears to be a common pattern of scam activity in the nature of ‘pig butchering,’” Justice Angus Stewart said in an April 4 court ruling after looking at 48 “Reviews of Misconduct” from 17 companies accused of facilitating romance scams. The judgment was made on March 21.

Source: Rocky Perrotta

Pig butchering scams involve scammers building fake relationships with victims to win their trust before convincing them to invest in a fraudulent crypto or financial scheme.

The securities regulator also suspects that much of the scam activity is coming from Southeast Asia.

Insolvency and restructuring advisers Catherine Conneely and Thomas Birch of Cor Cordis have been appointed as joint liquidators of the 95 companies.

Related: Australian regulator’s ‘blitz’ hits crypto exchanges, money remitters

Nearly 1,500 claims by “investors” had been received by the provisional liquidators, amounting to total claims of over $35.8 million, according to the court order.

The claimants are based in 14 countries, including Australia, the US, Cameroon, Ghana, India, Nepal, the Philippines and France.

The provisional liquidators found that only three of the 95 firms had assets to their name and recommended that the other 92 companies be wound up and immediately deregistered.

ASIC shutting down scam websites

ASIC said it has been removing around 130 scam websites each week of late, bringing its total to over 10,000 sites, which have included over 7,200 fake investment platform scams and 1,564 phishing scams.

“However, these scams are like hydras: you shut down one and two more take its place. That’s why we’re warning consumers that the threat of scams and identity fraud remains high. We remind consumers to be vigilant,” Court said.

Australia’s National Anti-Scam Centre recently reported a 26% fall in scam losses to $2 billion in 2024, while the number of scam reports also fell by 17.8% to 494,732.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Authorities in Spain have arrested six people who helped operate a global AI-powered investment scam that stole over $20 million from at least 208 victims. 

The scammers would swindle victims up to three times. After stealing an initial sum through the investment scam, the fraudsters contacted victims twice more, masquerading as investment managers and then as authorities, offering to recover the stolen funds for a fee, Spanish police said in an April 7 statement. 

The scammers used deepfake ads of “national personalities” promising high returns on crypto investments, and would occasionally pose as financial advisers or even feign romantic interest to lure in victims.  

Experts have been warning of a rise in AI-enhanced scams. Blockchain analytics firm Chainalysis said in its Feb. 13 Crypto Scam Revenue 2024 report that generative AI is making “scams more scalable and affordable for bad actors to conduct.”

🚩Detenidas seis personas por estafar más de 19 millones de euros usando #inteligenciaartificial🔴Engañaban a las víctimas a través de anuncios manipulados con #IA para que realizaran inversiones con #criptomonedas en productos supuestamente muy rentables pic.twitter.com/rMrdgBpOYz

— Policía Nacional (@policia) April 7, 2025

“Victims were not selected randomly; instead, algorithms selected those whose profiles matched the cybercriminals’ searches,” Spanish police said.

“Once they selected their victims, they placed advertising campaigns on the websites or social networks they used, offering them cryptocurrency investments with high returns and zero risk of asset loss — investments that, obviously, turned out to be a scam.” 

When victims could not withdraw the funds, most realized it was a scam, according to Spanish police; however, the ruse didn’t end there. 

Scammers would trick victims again with follow-up scams

The cybercriminals would then contact victims again, posing as investment managers, claiming the stolen funds were frozen and could be recovered if they paid a deposit. 

“The victims, hoping to finally recover their money, made the deposit without realizing they had been scammed again,” Spanish police said.

The scammers would then contact victims a third time, this time posing as Europol agents or lawyers from the United Kingdom, offering to return the stolen funds if the victim paid the corresponding taxes in the country where it was blocked.

Related:  Crypto broker breaks ankles while fleeing kidnappers in Spain

Spanish authorities arrested six people involved in the syndicate, charging them with fraud, money laundering and falsifying documents in a criminal organization. 

During a raid on the alleged leader behind the scam, Spanish authorities seized numerous cell phones, computers, hard drives, a simulated weapon and extensive documentation. 

Several people linked to the plot have also been identified in other countries, and the syndicate allegedly created a large number of fake companies to channel the stolen funds.  

“Furthermore, the members of the organization used multiple false identities. In the case of the leader, for example, he used more than 50 different identities,” Spanish police said.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5

Update: April 8 at 1:01am UTC: This article has been updated to include James Murphy’s responses to two questions from Cointelegraph.

A crypto lawyer has sued the US Department of Homeland Security, alleging the agency may know who created Bitcoin — compelling the department to share what it knows. 

The Freedom of Information Act lawsuit was filed by James Murphy, who based his accusations on claims made by DHS Special Agent Rana Saoud at a conference in April 2019, where she said a few of her colleagues had previously met with four people involved in creating Bitcoin.

“My FOIA lawsuit simply asks for the notes, email and other documents relating to that alleged interview,” Murphy posted to X after announcing the April 7 suit.  

“IF the interview really happened as the DHS Agent claimed, there should be documentation of the substance of that meeting,” added Murphy, who goes by MetaLawMan on X.

Source: James Murphy

Speaking at the OffshoreAlert Conference North America in Miami in April 2019, Saoud said DHS agents met with the four people it believed to have created Bitcoin, asking what their motives were and what the “end game” is for Bitcoin.

“The agents flew to California and they realized that he wasn’t alone in creating this, there were three other people, they sat down and talked with them to find out how this actually works and what the reason for it was,” Saoud said in the presentation, which is available on YouTube.

If the DHS resists disclosure, Murphy said he will “pursue the case to conclusion” to solve the mystery.

Murphy, however, noted that it is possible that Saoud and the other DHS agents were mistaken and did not interview the real Satoshi Nakamoto.

Related: Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Murphy is being assisted by former Assistant US Attorney Brian Field, who specializes in Freedom of Information Act litigation.

The purpose of the Freedom of Information Act is to promote transparency and accountability by granting the public access to information held by the government.

2 questions for James Murphy, aka MetaLawMan

Cointelegraph asked Murphy two questions about the DHS lawsuit. Here are his responses in full.

Question #1: What is your gut feeling—do you think the DHS actually interviewed the real Satoshi?Answer: “I think it’s very possible that the DHS agent was mistaken in what she said at that conference. I think DHS agents may have met with bitcoin code maintainers, or with actual Satoshi imposters. But, who knows? The DHS agent was a pretty high ranking official and was in a position to know what she was talking about. Either way, I think it will be productive to find out and hopefully resolve this question. Nothing prevents DHS from voluntarily revealing the information without need for protracted litigation.”Question #2: If the agency did speak with the four creators — who may be ordinary US citizens — why do you believe revealing their identities serves the public interest, even if it could put their safety or privacy at risk?Answer: “I don’t understand the question. The identities of the creators of all of the largest blockchain projects, like Charles Hoskinson and Vitalik Buterin etc., are all well known in the crypto community. There are also many major figures like Michael Saylor, Tim Draper and others who have amassed enormous wealth through investment in bitcoin and their identities are well known.There are hundreds of documentaries on YouTube where amateur sleuths have tried to identify Satoshi. I’m not one of them. I’m not hiring investigators to try to track down Satoshi, I’m seeking government records under transparency laws in effect in the U.S. If DHS did, in fact, learn Satoshi’s identity, then I’m not sure what the rationale is for dozens of government employees to have this information but withhold it from the general public. Our government is required to be transparent and not keep secrets from the citizens, absent a legitimate national security concern or other limited exemption. We consider this a fundamental aspect of our freedom in the USA. It is why we have something called the “Freedom of Information Act.” Transparency is good, the government hiding information from the citizenry is generally bad.

I am open about the fact that I am pro-bitcoin, having been an investor in bitcoin and a bitcoin miner since 2017. I speak to groups of executives and policy makers about bitcoin and I advocate for bitcoin adoption. What I find when I give these talks is very often these audiences (who are new to bitcoin) struggle with the idea that the creator of bitcoin is unknown while the provenance of the other major crypto projects is (relatively) transparent.

So, my intention is to either conclusively refute the claim of the DHS agent that they interviewed Satoshi, or achieve some transparency that will open the door to greater bitcoin adoption in the U.S. and around the globe. I support President Trump’s initiatives to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile. Since the bitcoin code is open source and can only be changed through the Bitcoin Improvement Proposal (BIP) procedure, Satoshi (if he or they were identified) would have no ability to unilaterally affect changes to bitcoin. As a result, any revelation of Satoshi’s identity is unlikely to adversely impact bitcoin. It’s more likely that such transparency would be a net positive for growing bitcoin adoption. Others may have different views on that and I respect their opinions.”

Efforts to identify Satoshi Nakamoto have failed

The lawsuit follows a wave of recent efforts attempting to uncover Satoshi’s identity.Last October, a controversial HBO documentary claimed that Peter Todd, a Bitcoin cypherpunk, invented Bitcoin. Todd refuted that conclusion, and most industry pundits said HBO’s evidence was weak.

Nick Szabo, Adam Back and Hal Finney have also had their names tied to Satoshi’s identity. Szabo and Back regularly refute claims they’re Satoshi, as did Finney before he died in 2013.

Meanwhile, members of the Bitcoin community are split on whether unveiling Satoshi’s identity would be a net positive for Bitcoin.

Some worry that revealing Satoshi’s identity could compromise Bitcoin’s decentralized ethos and put Satoshi’s safety at risk, while others want to be reassured that Bitcoin wasn’t created by the US government.

Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’

A team of former Kraken executives has taken control of Janover, with Joseph Onorati, former chief strategy officer at Kraken, stepping in as chairman and CEO, following the group’s purchase of over 700,000 common shares and all Series A preferred stock.

Parker White, former director of engineering at Kraken, was appointed as the new chief investment officer and chief operating officer. The group bought 728,632 shares of Janover common stock and all 10,000 shares of Series A preferred stock. Marco Santori, former chief legal officer at Kraken, will join the board.

Janover is a real estate financing company that connects lenders and buyers of commercial properties. The company stock price saw an 840% rise on April 7 as part of the deal.

According to a statement, the company’s new leadership has plans to create a Solana (SOL) reserve treasury. The plans include acquiring Solana validators, staking SOL and additional purchases of the token.

Janover stock price on April 7. Source: Google Finance

In tandem with the announcement, Janover revealed that it had raised $42 million in an offering of convertible notes. Convertible notes are a type of debt instrument that can later be converted to equity at a certain price. Participants in the funding round include Pantera Capital, Kraken, Arrington Capital, Protagonist, Third Party Ventures, and others.

Janover announced in December 2024 that it had begun accepting payments for its real estate services in Bitcoin (BTC), Ether (ETH), and SOL.

Crypto treasury companies: Bold or risky?

In August 2020, Strategy became one of the first publicly traded companies to hold Bitcoin on its balance sheet. Since then, several companies have followed suit, including Japan’s Metaplanet, Semler Scientific, and Tesla.

In many cases, these companies have seen rises in their share prices as investors sought exposure to digital assets through traditional financial products.

Some outsiders have criticized this approach due to the cryptocurrencies’ volatility and some companies’ financing methods, such as convertible note offerings used by Strategy.

SOL has seen significant volatility in the past 365 days, according to MarketVector. The coin has risen as to high as $274.50 and fallen to a low of $107.68.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again