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Forward Industries aims to consolidate Solana treasuries amid 60%+ SOL price drop

Market News
15 Jun 2026
Crypto Briefing
View Source
Bearish
pluang ai news

Forward Industries, holding about 7 million Solana (SOL) tokens bought at an average price of $232, faces over $1 billion in paper losses as SOL trades between $74 and $85. The company plans to acquire smaller Solana-focused digital asset treasury firms, leveraging depressed market-value net asset value (mNAV) ratios to consolidate the fragmented sector. Forward also authorized share buybacks and a $4 billion equity program to fund acquisitions. While staking rewards on SOL provide some revenue, the strategy's success depends heavily on SOL price recovery, as further declines could lead to significant dilution and larger underwater treasuries.

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