Galaxy and Multicoin Lead $1.65 Billion Push into Solana’s Institutional Growth

- Forward Industries secures $1.65 billion PIPE investment from Galaxy Digital, Jump Crypto, and Multicoin Capital. - Funding to establish the company as a key institutional player in the Solana ecosystem. On September 8, 2025, Forward Industries, Inc. announced it has secured $1.65 billion in cash and stablecoin commitments through a private investment in public equity (PIPE) offering. The funding round was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with participation from major existing shareholder C/M Capital Partners, LP. Forward Industries will use this significant capital injection to execute a Solana-focused digital asset treasury strategy, a move that aligns with the ecosystem’s expanding institutional appeal. This strategic partnership underscores Forward Industries’ intent to solidify its presence as a leading publicly traded entity within the Solana ecosystem. According to the announcement, CEO Michael Pruitt expressed confidence in Solana's long-term potential, emphasizing the company's commitment to driving shareholder value by integrating with the blockchain’s burgeoning growth trajectory. In addition to financial support, Galaxy Digital, Jump Crypto, and Multicoin Capital will deliver strategic guidance to Forward Industries. The depth of this collaboration is further signified by leadership transitions, as Kyle Samani, co-founder and managing partner of Multicoin Capital, will assume the role of Chairman of Forward Industries’ Board of Directors. Moreover, Chris Ferraro, President and Chief Investment Officer at Galaxy Digital, and Saurabh Sharma, Chief Investment Officer at Jump Crypto, will join the board as observers. Cantor Fitzgerald & Co. acted as the lead placement agent for the PIPE offering, reinforcing the institutional weight behind the transaction. According to data from CoinMarketCap on September 8, Solana (SOL) was trading at $214.524 as of 12:57 UTC. The token saw a 5.264% increase in 24-hour trading volume, which signifies growing investor confidence in the ecosystem’s durability and scalability.