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Solana-based multi-signature protocol Squads has raised $18 million in a new strategic equity round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D and others, according to The Block. The financing brings Squads’ total funding to $42.9 million and will be used primarily to expand its stablecoin-focused enterprise platform, Altitude.
Squads is a core infrastructure provider in the Solana ecosystem, offering multisig smart accounts and treasury-management tools that DAOs, teams and protocols use to secure on-chain assets and manage program control. Built on the Squads Protocol, its platform enables multi-signature wallets, granular permissions and spending limits for Solana-native organizations, and is often described as a de facto standard for multisig on the network.
The new capital is intended to accelerate the growth of Altitude, Squads’ stablecoin account product for businesses. Altitude is designed to let companies use self-custody accounts to send and receive stablecoin payments globally 24/7, manage payroll and vendor payouts, and connect into broader payment networks through compliance and risk-control layers.
In practice, Altitude aims to position Solana as a back-end settlement layer for dollar-denominated cash management, leveraging the chain’s high throughput and low fees. Solana Ventures’ participation in the round is presented as a signal of the protocol’s strategic importance to the chain’s security and operational stack.
As of April 29, 2026, Solana (SOL) is trading around $84, slightly below recent levels near $86–$88, with a market capitalization close to $48 billion. On Polymarket, traders price the $80–$90 range as the most likely closing band for SOL, suggesting the market views the move as consolidation rather than a breakout catalyst on its own.
The Squads funding news is described as strengthening the fundamental story for Solana as a base layer for enterprise-grade stablecoin flows and treasury infrastructure. However, it comes amid modest short-term price weakness and a broader risk-off tone in major assets.
In the near term, the announcement is expected to be more supportive of sentiment and ecosystem narrative than to drive an immediate re-rating of SOL. For traders, the key question is whether Altitude can meaningfully grow on-chain stablecoin balances and transaction volumes on Solana in coming quarters; if it does, that could reinforce fee revenue and network usage metrics that have historically correlated with stronger medium-term price performance. Until concrete adoption data emerges, SOL’s price action is expected to remain anchored in the $80–$90 range, with the Squads round viewed as a constructive but incremental bullish data point rather than a standalone catalyst.
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