Forward Industries has announced the acquisition of 6,822,000 Solana (SOL) tokens at an average price of $232 each, totaling approximately $1.58 billion. The company utilized a combination of open market purchases and on-chain transactions to secure the non-locked SOL, which has been staked. This move follows Forward Industries' recent completion of a $1.65 billion private placement in cash and stablecoins, led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
Forward Industries Acquires $1.58 Billion in Solana for Treasury
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