Largest Solana treasury recruits ParaFi Capital exec after over 40% plunge in holdings value
Forward Industries, the largest Solana treasury, hired former ParaFi Capital executive Ryan Navi following a 40% drop in its SOL holdings value.Summary
Forward Industries, which manages the largest Solana digital asset treasury (DAT), has appointed former ParaFi Capital managing director Ryan Navi to oversee its strategy after its SOL holdings value plummeted by over 40%. The company acquired 6.82 million SOL in mid-September at an average price of $232, costing $1.58 billion, but with Solana trading around $124 on Monday, the value has significantly decreased. Navi will now be responsible for executing Forward’s Solana treasury strategy, focusing on capital markets opportunities and leveraging staking infrastructure to increase SOL-per-share. ParaFi Capital, which has invested in Forward, also recently saw Navi depart his role as head of venture. Forward is also bolstering its strategy by establishing a 25-member crypto advisory board.
(Source：The Block)