DeFi Development Corp., listed on Nasdaq under DFDV, bought 55,491 SOL worth approximately $5.78 million, bringing its holdings to roughly 2.49 million SOL. The company has positioned itself as a dedicated Solana treasury vehicle, similar to MicroStrategy's Bitcoin strategy, using public-market capital to accumulate one digital asset. Its holdings rose from approximately 2.39 million SOL on September 14 to around 2.49 million on September 18. Formerly known as Janover, the company shifted to a Solana-focused treasury model in April 2025 after a new leadership team composed of former Kraken executives took majority control. DFDV is now the second-largest public holder of Solana, behind Forward Industries. Its planned $300 million CHAD perpetual preferred stock program is intended to finance further purchases, while staking (locking tokens to earn network rewards) could provide returns for reinvestment. CEO Joseph Onorati says the strategy seeks greater capital efficiency and aims to outperform SOL rather than simply track its price. DFDV stock reportedly delivered roughly twice SOL's quarter-to-date performance in mid-September, although the concentrated strategy exposes the balance sheet to sharp declines in SOL and leaves preferred-stock obligations in place regardless of market performance.