- Pineapple Financial, a company listed on the New York Stock Exchange, purchased 560,000 injectives ($INJ) tokens worth $2 million as part of a cash purchase program.
- The first purchase was in October, when the company accumulated 678,000 tokens at $12.4. This batch has lost 76% of its value at current prices.
Canadian mortgage broker Pineapple Financial has announced a new round of financing. $INJ Purchase of tokens, this time for a total of 2 million dollars, $INJ financial company.
Pineapple, which is listed on the New York Stock Exchange, announced the move on Thursday, saying it had acquired 560,647 shares. $INJ The token was acquired for $2 million, indicating that it will continue to increase its status in the coming years. As of Thursday, the company had assets worth $20.8. $INJ token.
“Our belief in Injective remains unchanged,” he added.
Pineapple Financial (NYSE: PAPL) $INJ Acquisition.
Today they made additional announcements $INJ They have accumulated from the public markets as they continue to expand their Injective First Treasury strategy in public equity markets. https://t.co/iB4fUC4yWw
— Injective (@injective) February 20, 2026
The company first purchased Injective tokens in October last year, acquiring 678,353 tokens. $INJ Tokens worth $8.9 million at the time. A month earlier, the company had completed a $100 million private placement to create the Injective digital asset vault. The stated goal was “to become the world’s largest owner and investor.” $INJ”The company is staking all its tokens.
The token the company purchased in October has now lost more than 75% of its value, falling from $12.4 at the time to $3.31 at press time. However, this has not affected the company’s strategy and continues to accumulate.
Pineapple’s contribution to the Injective ecosystem goes beyond token accumulation. It plans to integrate the network’s DeFi infrastructure and asset tokenization into its mortgage business. Injective recently announced IIP-619 and a community buyback to facilitate the recovery of the token.
“This injection investment is $INJ The future of tokens and our ambition to create the world’s largest and most productive tokens $INJ CEO of “Financial Platform” Shubha Dasgupta commented.
According to a financial report issued a week ago, the company claims to have $42.74 million in its digital asset vault, of which $20 million is digital assets. $INJ$5 million in stablecoins and $15 million in cash. However, the stock is trading at $0.73, and the company’s market capitalization is less than half of DAT’s, about $20 million.
Rise of digital asset treasury companies
Pineapple Financial is one of dozens of publicly traded companies that are gradually pivoting from their original line of business to digital asset treasury.
Strategy remains an industry figurehead, and its turnaround from a struggling enterprise solutions company to a $120 billion market cap last year was the catalyst for the continued accumulation of these DATs. Initially, Treasury was limited to BTC and ETH, but has now expanded its scope to smaller tokens as well.
As we reported, one such DAT, Solana Company, recently announced that it would allow financial institutions to borrow against its SOL holdings, which significantly boosted the company’s stock price. Another DAT, Sui Group, announced in January that it would launch a new Sui-based stablecoin for token buybacks.
Financial experts have warned that these DATs are the latest bubble in cryptocurrencies, and that once they burst, thousands of investors will lose billions of dollars. DAT has been hit hard this year by falling token prices, dropping nearly a fifth of its stock value as other industry benchmarks improved slightly.
DAT performance in 2026.
