Kraken Veterans take over Janover with new focus on Solana holdings

A team of crypto industry veterans, all formerly with Kraken, has acquired majority ownership in Janover Inc., marking a significant pivot for the company toward decentralized finance.

The group includes Joseph Onorati, now Chairman and CEO, and Parker White, appointed Chief Investment Officer and Chief Operating Officer, according to a company release.

The new leadership also includes Marco Santori, Kraken’s former Chief Legal Officer, who joins the board alongside Blake Janover, the company’s founder, and William Caragol, who will remain Audit Committee Chair.

Solana reserve strategy

Under the new management, Janover has adopted a digital asset treasury strategy, starting with Solana (SOL). The company plans to acquire and operate Solana validators — critical blockchain nodes that secure the network and earn staking rewards. 

The strategy aims to generate returns by staking SOL and reinvesting those proceeds into acquiring more tokens and validator operations.

The transition aligns with Janover’s broader shift from a traditional lending platform to a SaaS business model. The company also announced plans to rebrand as DeFi Development Corporation, with a forthcoming ticker symbol change.

CEO Joseph Onorati highlighted the company’s push into DeFi as a milestone in bridging traditional and decentralized finance. “We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana,” he said.

White brings technical expertise as a current Solana validator operator managing $75 million in delegated stake, while Onorati has a background in crypto trading and exchange operations, according to a company release. 

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