Forward Industries Unveils Solana Validator, Delegates Entire $1.5B SOL Stash to It

Core Insights - Forward Industries (FORD) has launched a validator node on the Solana blockchain, delegating its entire 6.8 million SOL holdings, valued at approximately $1.5 billion, to this node [1][4] - The validator is built on DoubleZero, a global network aimed at enhancing blockchain performance, allowing investors to delegate stake to Forward at no cost [1][3] - Forward's validator is anticipated to rank among the top 10 on the Solana network by stake, with plans for future validators to operate exclusively on DoubleZero [3] Financial Developments - The launch of the validator follows a $1.65 billion private investment round, positioning Forward as the company with the largest Solana treasury among publicly traded firms [4] - DeFi Development Corp (DFDV) is noted as the second-largest publicly traded SOL treasury firm, holding approximately 2.09 million tokens [4] - Forward Industries has initiated a $4 billion at-the-market (ATM) equity program to enhance its holdings and operational capabilities [4] Market Reaction - Following the announcement, Forward Industries' shares experienced a 7% decline on Tuesday but rebounded to trade over 4% higher at $24.67 during early Wednesday trading [5]