Forward Industries Launches $1.58B Solana Treasury With 6.82M $SOL

The purchase of 6.82 million of the $SOL tokens by Forward Industries led to the initiation of its giant Solana treasury plan and placed all of its assets at stake.

Solana treasury: Forward Industries, Inc. has begun its Solana acquisition with the purchase of 6.82 million $SOL. The acquisition, which was at an average price of $232 per token, involved a purchase of $1.58 billion in the recent past.

This was after the company had just secured a large investment of $1.65 billion in a private investment in public equity (PIPE). 

Galaxy Digital, Jump Crypto, and Multicoin Capital are the key investors that spearheaded this move, according to Solanafloor.com.

The company has acquired its tokens both in open market and on-chain transactions. These included a one-million-dollar trade on DFlow, a decentralized exchange aggregator based on the Solana platform. 

This on-chain deal was funded by SolFi, a DFlow provider. Forward Industries emphasized the importance of on-chain purchases to demonstrate its desire to achieve the best result for shareholders with the help of various trading platforms.

Pruitt highlighted the quick development of the treasury as one of the first achievements of their plan, which was provided within a week of the closing PIPE.

Galaxy Digital’s Central Role Raises Eyebrows

Galaxy Digital was one of the primary sources of tokens to Forward Industries. Arkham Intelligence data indicate that Galaxy purchased approximately $6.5 million $SOL close to the time that the PIPE closed on September 11, 2025. 

In the last 24 hours, Galaxy purchased approximately 1.24 million tokens worth approximately $306 million on Binance, Coinbase, and Bybit, among other exchanges.

This attracted higher entry prices of other Solana investment vehicles. This aggressive and rapid accumulation of tokens has elicited social media controversy.

Others applauded the strategy due to its well-executed nature. Others asked why Forward Industries failed to use a dollar cost averaging buy strategy. 

Skeptics feared that the purchases would stall more activity because of phrases such as That is it until next DAT and Why no DCA.