Crypto Industry Leaders Acquire Majority Ownership of Janover Inc.
Janover Inc. (NASDAQ: JNVR) has undergone a major ownership transition as former Kraken executives acquire majority control. The acquisition includes 728,632 common shares and all 10,000 Series A Preferred Stock shares. Joseph Onorati has been appointed Chairman and CEO, while Parker White takes the roles of Chief Investment Officer and COO.
The company announced a significant strategic shift, adopting a new treasury policy focused on digital assets, primarily Solana (SOL). The strategy includes plans to acquire Solana validators and engage in SOL staking operations. The company will maintain its core SaaS business operations, with former CEO Blake Janover and CFO Bruce Rosenbloom remaining involved.
The company will be rebranded as DeFi Development , with a ticker symbol change pending. The new leadership team brings extensive cryptocurrency industry experience, with Onorati's background as Kraken's Chief Strategy Officer and White's expertise in managing a Solana validator with $75M in delegated stake.
Janover Inc. (NASDAQ: JNVR) ha subito una significativa transizione di proprietà con l'acquisizione del controllo maggioritario da parte di ex dirigenti di Kraken. L'acquisizione comprende 728.632 azioni ordinarie e tutte le 10.000 azioni di Series A Preferred Stock. Joseph Onorati è stato nominato Presidente e CEO, mentre Parker White assume i ruoli di Chief Investment Officer e COO.
L'azienda ha annunciato un importante cambiamento strategico, adottando una nuova politica di tesoreria focalizzata sugli asset digitali, in particolare su Solana (SOL). La strategia include piani per acquisire validatori di Solana e partecipare a operazioni di staking di SOL. L'azienda manterrà le proprie operazioni principali di business SaaS, con l'ex CEO Blake Janover e il CFO Bruce Rosenbloom che rimarranno coinvolti.
L'azienda sarà rinominata DeFi Development, con un cambiamento del simbolo di borsa in attesa. Il nuovo team di leadership porta una vasta esperienza nel settore delle criptovalute, con il background di Onorati come Chief Strategy Officer di Kraken e l'esperienza di White nella gestione di un validatore di Solana con $75M in stake delegato.
Janover Inc. (NASDAQ: JNVR) ha experimentado una importante transición de propiedad, ya que exejecutivos de Kraken adquieren el control mayoritario. La adquisición incluye 728.632 acciones comunes y todas las 10.000 acciones preferentes de la Serie A. Joseph Onorati ha sido nombrado Presidente y CEO, mientras que Parker White asume los roles de Chief Investment Officer y COO.
La compañía anunció un cambio estratégico significativo, adoptando una nueva política de tesorería centrada en activos digitales, principalmente en Solana (SOL). La estrategia incluye planes para adquirir validadores de Solana y participar en operaciones de staking de SOL. La empresa mantendrá sus operaciones principales de negocio SaaS, con el ex CEO Blake Janover y el CFO Bruce Rosenbloom permaneciendo involucrados.
La empresa será renombrada como DeFi Development, con un cambio de símbolo bursátil pendiente. El nuevo equipo de liderazgo aporta una amplia experiencia en la industria de las criptomonedas, con el historial de Onorati como Chief Strategy Officer de Kraken y la experiencia de White en la gestión de un validador de Solana con $75M en stake delegado.
Janover Inc. (NASDAQ: JNVR)는 전 Kraken 경영진이 다수의 지분을 인수하면서 주요 소유권 전환을 겪었습니다. 이번 인수에는 728,632주 일반 주식과 모든 10,000주 A 시리즈 우선주가 포함됩니다. Joseph Onorati가 회장 겸 CEO로 임명되었고, Parker White는 최고 투자 책임자 및 COO 역할을 맡습니다.
회사는 디지털 자산에 중점을 둔 새로운 재무 정책을 채택하며 중요한 전략적 전환을 발표했습니다. 주로 Solana (SOL)에 집중하며, Solana 검증자를 인수하고 SOL 스테이킹 작업에 참여할 계획을 포함하고 있습니다. 회사는 이전 CEO인 Blake Janover와 CFO인 Bruce Rosenbloom이 계속 참여하면서 핵심 SaaS 비즈니스 운영을 유지할 것입니다.
회사는 DeFi Development로 브랜드를 변경할 예정이며, 주식 기호 변경이 대기 중입니다. 새로운 리더십 팀은 Kraken의 최고 전략 책임자로서의 Onorati의 배경과 $75M의 위임 스테이크를 가진 Solana 검증자 관리 경험을 가진 White의 전문성을 포함하여 암호화폐 산업에서 폭넓은 경험을 제공합니다.
Janover Inc. (NASDAQ: JNVR) a subi une importante transition de propriété alors que d'anciens dirigeants de Kraken acquièrent le contrôle majoritaire. L'acquisition comprend 728.632 actions ordinaires et toutes les 10.000 actions privilégiées de la série A. Joseph Onorati a été nommé Président et CEO, tandis que Parker White prend les rôles de Chief Investment Officer et COO.
L'entreprise a annoncé un changement stratégique significatif, adoptant une nouvelle politique de trésorerie axée sur les actifs numériques, principalement Solana (SOL). La stratégie inclut des plans pour acquérir des validateurs Solana et participer à des opérations de staking SOL. L'entreprise maintiendra ses opérations principales de SaaS, avec l'ancien CEO Blake Janover et le CFO Bruce Rosenbloom restant impliqués.
L'entreprise sera renommée DeFi Development, avec un changement de symbole boursier en attente. La nouvelle équipe de direction apporte une vaste expérience dans l'industrie des cryptomonnaies, avec le parcours d'Onorati en tant que Chief Strategy Officer de Kraken et l'expertise de White dans la gestion d'un validateur Solana avec 75 millions de dollars en stake délégué.
Janover Inc. (NASDAQ: JNVR) hat einen bedeutenden Eigentümerwechsel durchgemacht, da ehemalige Kraken-Manager die Mehrheitskontrolle übernehmen. Die Übernahme umfasst 728.632 Stammaktien und alle 10.000 Vorzugsaktien der Serie A. Joseph Onorati wurde zum Vorsitzenden und CEO ernannt, während Parker White die Rollen des Chief Investment Officer und COO übernimmt.
Das Unternehmen kündigte einen bedeutenden strategischen Wandel an und nahm eine neue Schatzpolitik an, die sich auf digitale Vermögenswerte konzentriert, insbesondere auf Solana (SOL). Die Strategie umfasst Pläne zur Übernahme von Solana-Validatoren und zur Teilnahme an SOL-Staking-Operationen. Das Unternehmen wird seine Kern-SaaS-Geschäftsoperationen aufrechterhalten, während der ehemalige CEO Blake Janover und CFO Bruce Rosenbloom weiterhin beteiligt bleiben.
Das Unternehmen wird unter dem Namen DeFi Development umbenannt, wobei ein Wechsel des Tickersymbols ansteht. Das neue Führungsteam bringt umfangreiche Erfahrung in der Kryptowährungsbranche mit, wobei Onoratis Hintergrund als Chief Strategy Officer von Kraken und Whites Expertise in der Verwaltung eines Solana-Validators mit $75M im delegierten Stake hervorzuheben sind.
- Strategic pivot into high-growth digital assets sector
- Experienced crypto industry leadership team from Kraken
- New revenue stream potential through Solana validator operations
- Retention of key personnel ensuring business continuity
- Access to multi-billion dollar Solana staking market
- Significant shift in business strategy may pose execution risks
- Exposure to volatile cryptocurrency market
- Regulatory uncertainty in crypto sector
- Potential dilution of original business focus
Insights
This announcement represents a transformative strategic pivot for Janover. Former Kraken executives acquiring majority control signals a complete redirection toward cryptocurrency, particularly the Solana ecosystem. The treasury policy shift to hold digital assets (primarily SOL) and develop validator infrastructure positions the company as potentially the first US-listed pure-play on Solana's ecosystem.
The validator business model is particularly noteworthy. By operating Solana validators, the company can generate SOL rewards through staking, creating a compounding mechanism to accumulate more SOL over time. White's existing validator operation with
This approach effectively transforms a small-cap company (
Maintaining the existing SaaS business while pursuing this new direction suggests a two-pronged strategy: continue developing reliable cash flow from traditional operations while building crypto infrastructure. The planned rebranding to "DeFi Development " completes this transformation, signaling to markets the company's new primary focus.
This acquisition represents a rare case of a complete strategic pivoting through majority stakeholder change. The transformation fundamentally alters Janover's business proposition from a fintech SaaS company to a crypto-focused entity with a specific emphasis on Solana infrastructure.
The retention of founder Blake Janover and CFO Bruce Rosenbloom indicates a balanced approach to transition – maintaining operational continuity while implementing the new vision. This structure preserves institutional knowledge during what will likely be a complex transformation period.
The leadership composition brings complementary expertise: Onorati's background in crypto exchanges and market-making provides strategic direction, White contributes technical validator expertise and institutional investment experience, while Santori (former Kraken CLO) adds critical regulatory navigation capabilities – essential in the evolving crypto regulatory landscape.
This move positions the company to potentially become one of the few publicly-traded proxies for Solana ecosystem exposure. For a micro-cap company with
New Leadership Eyes Solana Treasury Strategy
BOCA RATON, FL, April 07, 2025 (GLOBE NEWSWIRE) -- An all-former-Kraken team dedicated to bridging the liquidity gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi) has acquired majority ownership in Janover Inc. (NASDAQ: JNVR) ("Janover" or the "Company").
The Board of Directors appointed Joseph Onorati as Chairman and CEO of the Company, and Parker White as Chief Investment Officer and Chief Operating Officer. Janover Founder Blake Janover and Director and Audit Committee Chair William Caragol will remain on the board. Marco Santori, former Chief Legal Officer of Kraken, will join the board. Joseph Onorati and Parker White are part of the control group that acquired 728,632 shares of common stock and all 10,000 outstanding shares of Series A Preferred Stock of Janover.
The Board has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to digital assets, starting with Solana (SOL). The Company will explore acquiring Solana validators and aims to acquire and stake SOL through them. The validator business seeks to acquire outside stake and use the corresponding revenue to acquire more SOL.
Validators are blockchain nodes on the network with core functions including validating transactions and maintaining network consensus. To operate a validator on Solana, one must commit or ‘stake’ a certain amount of SOL. In return, validator operators are rewarded with more SOL tokens. Staking on Solana is a multi-billion dollar business.
Janover will continue operating its core business, which continues its transition to a SaaS business model. Blake Janover and Bruce Rosenbloom (CFO) will remain involved in daily operations of the business to ensure the company retains their rich expertise and maintains the same level of service.
“After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption. We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana,” said Joseph Onorati, CEO. “We’ve brought together an exceptional team with deep digital assets and public market expertise to make it happen.”
“Their team is exceptional," said Blake Janover, Director and former CEO. “I’m so excited for the value I believe this can drive to shareholders and the future growth of this business. I’ve spent a great deal of time learning the ins and outs of the DeFi ecosystem and find myself incredibly aligned with the vision of the incoming leadership. The Janover SaaS business continues to grow and with fresh resources, the future never looked brighter.”
Onorati and White bring deep expertise in the digital asset space including experience in trading, staking, engineering, and operations.
Along with most recently serving as the Chief Strategy Officer at Kraken Digital Asset Exchange, Onorati was the Founder & CEO at an HFT crypto market maker and the interim CEO at CaVirtEx, the first Bitcoin exchange in Canada until he sold it to Coinsetter, which was later acquired by Kraken. White, a former Engineering Director at Kraken Digital Asset Exchange, currently runs a Solana validator with
As part of this transaction, the Company will undergo a name and ticker symbol change at a future date. The new name will be DeFi Development Corporation.
About Janover Inc.
Janover Inc. (Nasdaq: JNVR) is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals as we connect the increasingly complex ecosystem that stakeholders have to manage.
We currently serve more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders including more than
About DeFi Development Corporation
In adopting its new treasury policy, the Company intends to provide investors a way to access the Solana ecosystem. The Company’s treasury policy is expected to provide investors economic exposure to SOL investment.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Media Contact:
Prosek Partners
pro-DDC@prosek.com
Investor Contact:
ir@defidevcorp.com
FAQ
What is the new treasury strategy announced by JNVR?
How many shares were acquired in the JNVR majority ownership deal?
What will happen to JNVR's existing business operations?
What is JNVR's new name going to be?
What experience does JNVR's new COO Parker White bring to the company?
