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The largest publicly traded Solana treasury company, Forward Industries, is going through a tough period. FWDI currently holds nearly 7 million SOL, making it the largest Solana treasury in the open market, with holdings exceeding the combined total of its three competitors. Its average purchase cost for SOL is about $232, and at the current price of approximately $85, the holdings are valued at around $600 million, with an unrealized loss approaching $1 billion. Additionally, FWDI's stock price has fallen from nearly $40 at last year's peak to about $5 now. (CoinDesk)