Janover soars after former Kraken executives buy majority stake

DeFi Development

07/04/2025 14:16

** Commercial property financing platform Janover's JNVR.O shares more than double to $9.59 in premarket trading

** Says a group of former executives of cryptocurrency exchange Kraken have acquired majority ownership in JNVR

** Joseph Onorati, formerly chief strategy officer at Kraken Digital Asset Exchange, will be Janover's new CEO

** JNVR's new leadership is also planning to buy cryptocurrency solana and hold it as a treasury reserve asset

** JNVR also raised about $42 million through convertible bonds and warrants from investors including cryptocurrency fund Pantera Capital and Kraken, among others

** Proceeds from offering will be used to acquire digital assets including solana

** As of last close, JNVR stock down 17.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))