DeFi Development approves 1 for 7 stock split, continues to bet on Solana

ChainCatcher news, according to The Block, the board of DeFi Development Corp. (NASDAQ: DFDV) approved a 7-for-1 stock split plan on Wednesday.

This split will increase the company's outstanding shares from approximately 2 million to 14 million, expected to take effect on May 20. The company recently acquired 82,404.5 SOL, bringing its total holdings to 400,000, and plans to acquire a Solana validator business to align with its SOL accumulation and infrastructure ownership strategy. The company was previously renamed from Janover and aims to become a representative enterprise of the "Solana strategy."