By Isaac • September 1, 2026 3:22 pm •
DeFi Development Corp. is preparing to raise nearly $20 million, and the company is making no secret of where it expects much of that money to go: deeper into Solana.
The Nasdaq-listed company has launched an offering of 2.2 million preferred shares at $9 apiece. If the deal is completed as planned, that works out to $19.8 million in gross proceeds before fees and expenses.
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Decrypt reported that CEO Joseph Onorati expects most of the proceeds to be used to purchase SOL. The formal offering language is broader, allowing the money to support working capital, digital-asset investments, strategic transactions and other growth initiatives.
That distinction matters. The company is signaling a clear preference for more Solana,
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