CMC News

INJ Sees $8.9M Buy as Pineapple Launches $100M Treasury

#Pineapple Financial initiated its $100 million Injective Digital Asset Treasury strategy on Tuesday with an opening purchase of 678,353 $INJ tokens valued at approximately $8.9 million. The Toronto-based fintech executed the transaction through open market acquisition as the first phase of its broader deployment plan.

The company intends to become the largest holder and staker of $INJ tokens, deploying all assets on-chain for staking operations. Expected annual yields stand at 12.75%, nearly double Ethereum's current staking rates and approximately 1.8 times higher than Solana's returns. All purchased tokens will be committed to #staking to generate ongoing revenue.

CEO Shubha Dasgupta emphasized that the initial investment demonstrates conviction in the token's future potential. The company aims to establish the world's largest and most productive $INJ #treasury platform through systematic accumulation and deployment strategies.

Eric Chen, co-founder of Injective Labs, welcomed the strategic move as an important step in executing the treasury strategy. He noted that Pineapple is helping accelerate on-chain finance adoption while reinforcing Injective's position as a leading blockchain purpose-built for financial applications.

The treasury launch follows Pineapple's September 2025 completion of a $100 million private placement specifically structured to fund digital asset acquisitions. The capital raise provided the foundation for the company's systematic purchasing program across multiple tranches.

Pineapple Financial operates as a fintech company exploring on-chain mortgage solutions and other financial products. The $INJ treasury represents a strategic pivot toward #cryptocurrency holdings as a core component of its business model and balance sheet #strategy.

The company indicated this represents the first cash purchase in a planned series of open market acquisitions.