Ex-Kraken Crew Takes the Helm at Janover Inc., Steers Toward DeFi

Hang onto your hats, crypto fans! A squad of seasoned Kraken vets just snagged majority ownership of Janover Inc., and they're not messing around. These guys are ready to shake things up and dive headfirst into the wild world of decentralized finance.

Leading the charge is Joseph Onorati, the new Chairman and CEO, alongside Parker White, who's stepping up as Chief Investment Officer and Chief Operating Officer. These two are ready to bring their A-game to Janover.

But wait, there's more! Marco Santori, Kraken's former Chief Legal Officer, is joining the board, rubbing elbows with founder Blake Janover and William Caragol, who's sticking around as Audit Committee Chair. This dream team is ready to take Janover to new heights.

Solana reserve strategy

Get ready for some serious Solana action, folks! Under the new management, Janover is going all-in on a digital asset treasury strategy, starting with everyone's favorite high-speed blockchain, Solana (SOL). They're not just playing around—they're planning to acquire and run Solana validators, those crucial nodes that keep the network humming and earn sweet staking rewards.

The plan? Stake SOL, rake in the returns, and then plow those profits right back into more tokens and validator ops. It's a bold move that's got everyone talking.

But that's not all—Janover is also ditching its old-school lending platform vibe and going full-on SaaS. And get this: they're rebranding as DeFi Development Corporation and snagging a shiny new ticker symbol. It's a total transformation, and we're here for it!

CEO Joseph Onorati is fired up about the company's DeFi push, calling it a game-changer in bridging the gap between traditional and decentralized finance. "We're proud to be the first to introduce a digital asset treasury strategy in the US public markets, and we're starting with Solana," he declared. You can feel the excitement in his words!

Parker White is bringing some serious tech chops to the table, currently running a Solana validator with a cool $75 million in delegated stake. And Onorati? He's got a background in crypto trading and exchange ops that's gonna come in clutch for Janover's new direction.

Don't worry, though—Janover's existing leadership, including founder Blake Janover and CFO Bruce Rosenbloom, are sticking around to keep things running smoothly during this wild ride of a transition.