Forward’s Solana Bet Nears $1B Loss

Published by

Nidhi Kolhapur

May 14, 2026

Forward Industries, one of the largest public holders of Solana, is sitting on an unrealized loss nearing $1 billion after SOL prices fell sharply below its average purchase cost of about $232 per token. The company held nearly 7 million SOL as of January 2026, with most of it staked for yield. The loss highlights growing risks for crypto treasury firms that borrow heavily to accumulate digital assets, even as staking income continues to provide some cash flow support.

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