Forward Industries to Deploy $1.6B SOL Treasury into Solana DeFi, Chairman Kyle Samani Says

COINOTAG reported on September 15, citing The Block, that SOL treasury operator Forward Industries intends to deploy funds into DeFi protocols on Solana. The outlet notes Forward has invested about $1.6 billion, allocating roughly $1.5 billion to acquire SOL; sources indicate Galaxy Digital executed approximately $400 million of purchases on the company’s behalf, while roughly $1.1 billion of SOL is held in Coinbase Prime Custody.

Chairman Kyle Samani’s remarks on channeling treasury assets toward on-chain protocols reflect a deliberate treasury management strategy to mobilize liquidity within the Solana ecosystem. Industry commentators have observed Solana’s relatively lower DeFi throughput versus Ethereum and regard targeted capital deployment as a credible step to support protocol activity, without implying assured market outcomes.