rewrite this title and make it good for SEO Toronto-Based Fintech Pineapple Launches $100M Crypto Treasury with $8.9M INJ Purchase – NFTgators

Quick take:

The company has completed an initial open market purchase of 678,353 Injective (INJ) tokens valued at about $8.9 million.

All tokens will be deployed for staking at an expected annual yield of about 12.75%, Pineapple said on Tuesday.

The company plans to become the largest INJ holder and staker, following its $100 million September 2025 private placement dedicated to the treasury.

Pineapple Financial Inc. (NYSEAmerican: PAPL) has launched its crypto treasury strategy with an $8.9 million INJ open market purchase. The purchase follows the Toronto-based Fintech’s $100 million private placement announced in September, intended to fund an Injective (INJ) Asset Treasury.

According to the announcement, Pineapple has completed an initial open market purchase of 678,353 Injective (INJ) tokens valued at about $8.9 million. All tokens will be deployed for staking at an expected annual yield of about 12.75%.

The company plans to become the largest INJ holder and staker, in one of the best-yielding tokens. At 12.75%, that is twice the yield on Ethereum and about 1.8 times Solana’s.

“This initial Injective investment underscores our conviction in the strength of the $INJ token’s future and our ambition to create the world’s largest and most productive INJ treasury platform,” said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial.

Pineapple shares spiked more than 30% on Tuesday after the announcement, before pulling back later to trim the gains. 

Eric Chen, co-founder of Injective Labs, lauded Pineapple’s initiative to execute its Injective treasury strategy. “Pineapple is helping accelerate the adoption of on-chain finance while reinforcing Injective’s role as a leading blockchain purpose-built for financial applications.”

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