Jito Foundation Buys SolanaFloor After Platform Shutdown

Jito Foundation has acquired SolanaFloor, the Solana ecosystem data and journalism platform that went offline in February after its parent company, Step Finance, collapsed following a devastating treasury wallet breach. The foundation plans to relaunch the site and restore its coverage of Solana projects, onchain analytics, and market activity.

A Newsroom Rescued From the Wreckage

SolanaFloor had built a quiet but real reputation inside the Solana community — tracking ecosystem developments, publishing research, and running onchain analytics at a time when most crypto media was focused elsewhere. Then Step Finance got hit. A treasury wallet breach in late January drained roughly $40 million in SOL, and the company wound down operations almost immediately after. SolanaFloor went dark in February, taking its editorial team with it.

The Jito Foundation stepped in. Under the acquisition, SolanaFloor will resume publishing coverage of the Solana ecosystem, according to a press release shared with reporters. Financial terms of the deal were not disclosed.

Awais Afzal, editor at SolanaFloor, confirmed that the platform's editorial staff has been absorbed as part of the deal and will stay on post-relaunch. He added that SolanaFloor's day-to-day editorial operations will be conducted independently from the Jito Foundation — an important detail for anyone who cares about editorial independence in crypto media.

What Is the Jito Foundation, Exactly?

Jito Foundation is a Solana-focused organization built around the Jito protocol — a liquid staking and block-building infrastructure project. The foundation coordinates grants, partnerships, and ecosystem initiatives intended to support activity across the Solana network. Owning a journalism platform is a new direction, but not an incoherent one. More information about SolanaFloor's editorial structure, team composition, and commercial offerings is expected once the relaunch date is confirmed.

Call it strategic, call it opportunistic — either way, the Jito Foundation spotted a gap and moved fast.

How Bad Was the Step Finance Hack?

Step Finance reported the breach on January 31 and said it had brought in cybersecurity firms to investigate. Blockchain security company CertiK later confirmed that more than 261,854 SOL tokens were unstaked and transferred during the attack — a number that puts the incident firmly in the "catastrophic" category for any DeFi project. The Step Finance hack analysis from CertiK detailed the mechanics of the breach. Step Finance noted the closure would also extend to affiliated platforms beyond SolanaFloor, including Remora Markets, a lending and yield protocol.

Security breaches continue to punish the crypto space at scale. A December report from blockchain analytics firm Chainalysis estimated hackers stole roughly $3.4 billion in cryptocurrency during 2025. The concentration of losses is striking: just three incidents accounted for approximately 69% of total funds stolen that year, including a $1.4 billion breach of crypto exchange Bybit. North Korean hacking groups were attributed with stealing $2.02 billion across the year, often by placing covert operatives inside crypto projects.

Does Crypto Media Need More Foundation Backing?

The SolanaFloor acquisition raises a question worth sitting with: as independent crypto media outlets struggle with revenue, are foundation-backed newsrooms the future — or a conflict of interest waiting to happen? The Jito Foundation says editorial operations will be independent. That's the right thing to say. Whether it holds up when SolanaFloor publishes something unflattering about Jito protocol is a different question entirely.

For now, Solana has its journalism platform back. The ecosystem lost something real when SolanaFloor went dark, and getting it back — even under new ownership — is better than nothing.