Forward Industries (FORD) has successfully completed a $1.65 billion private investment in public equity (PIPE) deal aimed at constructing the largest corporate treasury focused on Solana. Major investors Galaxy Digital, Jump Crypto, and Multicoin Capital together contributed over $300 million towards this venture. Following the announcement, Forward's shares surged by 15% in pre-market trading. The investments are intended to support the company's strategy to anchor its balance sheet in Solana's native token, SOL. Furthermore, as part of this deal, Multicoin co-founder Kyle Samani will take over as chairman of the board. The rise in corporate interest in digital asset treasuries signifies a growing trend among public companies to hold cryptocurrency directly, echoing the strategy adopted by early bitcoin investors. Solana centric treasury firms currently possess over $1.4 billion in SOL collectively, demonstrating the significant interest in the Solana ecosystem.

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