Kraken Veterans take over Janover with new focus on Solana holdings

A team of veterans of the cryptographic industry, all formerly with Kraken, acquired a majority property in Janover Inc., marking an important pivot for the company towards decentralized finances.

The group understand Joseph Onorati, now Chairman and Chief Executive Officer, and Parker White, appointed the director of investments and chief operations, according to a statement from the company.

The new management also includes Marco Santori, the former legal director of Kraken, who joins the board of directors alongside Blake Janover, founder of the company, and William Caragol, who will remain president of the audit committee.

Solana reserve strategy

Under the new direction, Janover adopted A digital asset cash strategy, starting with Solana (GROUND). The company plans to acquire and exploit the Solana validators – critical blockchain nodes that secure the network and earn awards for staking.

The strategy aims to generate yields by stimulating soil and reinvesting these procedures to acquire more tokens and validator operations.

The transition aligns with the wider passage of Janover of a traditional loan platform to a SaaS commercial model. The company has also announced its intention to rename as Development Corporation, with a next change of Ticker symbol.

CEO Joseph Onorati stressed the company’s push in DEFI as an important step in filling traditional and decentralized finances. “We are proud to be the first to introduce a digital asset cash strategy on US public procurement initially focused on Solana,” he said.

White provides technical expertise as a current Solana validator operator managing $ 75 million in delegated participation, while Ororati has training in cryptographic negotiation and exchange operations, according to a company press release.

Janover’s existing leadership, including the founder Blake Janover and the financial director Bruce Rosenbloom, will remain in place to support the operations in the company during the transition.