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.