A group of former executives from the cryptocurrency exchange Kraken has acquired majority ownership in Janover Inc. (NASDAQ: JNVR), a commercial real estate platform.
The new leadership acquired 728,632 shares of common stock and all 10,000 outstanding shares of Series A Preferred Stock of Janover. The company also announced it sold approximately $42 million in an offering of convertible notes and warrants from Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners, and 11 angel investors.
The company’s reconfigured board of directors – which includes the newly appointed Chairman and CEO Joseph Onorati and Chief Investment Officer and Chief Operating Officer Parker White – announced that it 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 the cryptocurrency Solana.
Janover’s founder Blake Janover will remain on the board, along with Director and Audit Committee Chair William Caragol. Janover will continue operating its core business, with Blake Janover and Chief Financial Officer Bruce Rosenbloom remaining involved in daily operations of the business.
“After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption,” said Onorati. “We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana. We’ve brought together an exceptional team with deep digital assets and public market expertise to make it happen.”
