Forward Industries acquired over 500,000 SOL in its fiscal Q3, increasing its total holdings to 7.55 million SOL, valued at approximately $573 million. The company's stock saw a double-digit percentage jump following the announcement.
Forward Industries, a major Solana treasury firm, proposed acquisitions to rivals Solana Company, Brera Holdings, and SkyAI. Two firms rejected the offers, and one did not respond. Shares in all companies surged as Solana and other cryptocurrencies rose.
Sharplink (Ethereum treasury) and Forward Industries (Solana treasury) to be included in Russell 3000 and 2000 indexes, following BitMine Immersion Technologies, impacting their market visibility and liquidity.
Upexi's shares fell 8.16% after reporting a $109 million Q3 net loss, driven by $92.3 million in unrealized crypto losses, despite 46% revenue growth to $4.6 million, largely from crypto staking.
Investors back a model that moves insurance risk and capital flows onto blockchain rails, as onchain reinsurance looks to attract institutional participation.
